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1.) What is the accounts receivable turnover and the average collection period? (Use 365 days in a year. Round your intermediate and final answers to
1.) What is the accounts receivable turnover and the average collection period? (Use 365 days in a year. Round your intermediate and final answers to 2 decimal places.)
2.) What is the inventory turnover and the average sale period? (Use 365 days in a year. Round your intermediate and final answers to 2 decimal places.)
3.) What is the times interest earned ratio? (Round your answer to 2 decimal place.)
Required information The following information applies to the questions displayed below.j Markus Company's common stock sold for $2.50 per share at the end of this year. The company paid a common stoclk dividend of $0.40 per share this year. It also provided the following data excerpts from this year's financial statements Ending Beginning Balance Balance $ 31,500 $ 47,800 $ 56,000 46,300 $50,800 $ 56,000 138,300 $ 150,100 $ 417,000 $405,300 $ 57,000 $ 39,000 $ 117,000 105,300 114,000 $ 114,000 $300,000 $300,000 Total liabilities and stockholders' equity $ 417,000 $405,300 Cash Accounts receivable Inventory Current assets Total assets Current liabilities Total liabilities Common stock, $1 par value Total stockholders' equity This Year Sales (all on account) 650,000 377,000 $273,000 Net operating income $ 120,750 $ 7,000 $ 79,625 Cost of goods sold Gross margin Interest expense Net incomeStep by Step Solution
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