13 Balance Sheet Assets: Cash and marketable securities Income statement Net sales (all credit) $10,000,000 $600,000 (3,000,000) 8 points 8 01:43:00 Accounts receivable inventories Prepaid expenses Total current assets Fixed assets Less: accum. depreciation. 900,000 1,500,000 75,000 $3,075,000 8,000,000 (2,075,000) Less: Cost of goods sold Selling and administrative expense Depreciation expense Interest expense Earnings before taxes income taxes Net Income Common stock shares outstanding Market price (2,000,000) (250,000) (200,000) 4,550,000 (1.820,000) $2,730,000 Net fixed assets Total assets $5.925,000 $9,000,000 1,000,000 30.00 Liabilities: Accounts payable Notes payable Accrued taxes Total current liabilities Long-term debt Owner's equity (1 million shares of common stock outstanding) Total liabilities and owner's Jequity $800,000 700,000 50,000 $1,550,000 2,500,000 4,950,000 $9,000,000 Based on the information in the above table the accounts payable period is: notar moltes and owners equity $9,000,000 13 Based on the information in the above table the accounts payable period is: 8 points Multiple Choice 8 0142.54 97.33 days 3.75 days O 29.85 days 109.5 days 5 14 Balance Sheet Assets: Cash and marketable securities Income statement Net sales (all credit) $10,000,000 $600.000 (3,000,000) points 8 01:42:46 Accounts receivable Inventories Prepaid expenses Total current assets Fixed assets Less: accum. depreciation. 900,000 1,500,000 75,000 $3,075,000 8,000,000 (2,075,000) Less: Cost of goods sold Selling and administrative expense Depreciation expense Interest expense Earnings before taxes Income taxes Net Income Common stock shares outstanding Market price (2,000,000) (250,000) (200,000) 4,550,000 (1.820,000) $2,730,000 Net fixed assets Total assets $5.925.000 $9,000,000 1,000,000 30.00 Liabilities: Accounts payable Notes payable Accrued taxes Total current liabilities Long-term debt Owner's equity (1 million shares of common stock outstanding) Total liabilities and owner's Jequity $800,000 700,000 50,000 $1,550,000 2,500,000 4,950,000 $9,000,000 Based on the information in the above table the inventory turnover ratio is Based on the information in the above table the inventory turnover ratio is 14 Multiple Choice Sints 01:42:35 2.0 times 2.5 times, 13 times. 2.9 times