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16 Markus Company's common stock sold for $4.75 per share at the end of this year. The company paid a common stock dividend of $0.57
16 Markus Company's common stock sold for $4.75 per share at the end of this year. The company paid a common stock dividend of $0.57 per share this year. It also provided the following data excerpts from this year's financial statements: Cash Accounts receivable Inventory Current assets Total assets. Current liabilities Total liabilities Common stock, $1 par value Total stockholders' equity Total liabilities and stockholders' equity Sales (all on account) Cost of goods sold Gross margin Net operating income Interest expense Net income This Year $ 1,080,000 $ 626,400 $ 453,600 $ 276,500 $ 14,000 $ 183,750 Ending Balance $ 44,000 $ 92,000 $ 73,300 $ 209,300 $ 750,000 $ 84,000 $210,000 $ 158,000 $540,000 $ 750,000 Beginning Balance $ 43,200 $ 66,200 $ 92,000 $ 201,400 $ 809,000 $ 87,000 $ 189,000 $158,000 $ 620,000 $ 809,000 Foundational 14-9 (Algo) 9. 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.) Accounts receivable turnover Average collection period 13.65 days 10. 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.) Inventory turnover Average sale period days
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