23-26

M23-M26: The following balance sheet and income statement should be used for questions Income Statement For the Year $631 442,220 Depreciation $160,700 EBIT 14 $145 Taxable income 49 eginning of YearEnd of Year receivabli 91.400 66150 53795d Net fixed assets 516 100 58824og Total assets S136.109 104.30g payable Long lerm debt 32950g 290.209 stock 75.000 82.009 Retained earnings 300 ood 39700g Total Liab Equity sa 4960g 882 400 23. How many days on average does it take to sell the inventory? (Use year-end values) a. 128 days b, 74 days c. 219 days d. 47 days e, 177 days 24. How many dollars of sales are being generated from every dollar of net fixed assets? (Use year- end values) a. $0.88 C. $1.46 d, S2.59 e, $3.09