24. You have the following information on Marco's Polo Shop: total liabilities and equity = $205 million, current liabilities = $45 million, inventory = $60 million and quick ratio = 2.4 times. Using this information, what is the balance for fixed assets on Marco Polo's balance sheet? A. $37 m B. $97 m C. $145 m D. $157 m 25. Night Scapes, Corp. began the year 2008 with $10 million in retained earnings. The firm suffered a net loss of $2 million in 2008 and yet paid $2 million to its preferred stockholders and $1 million to its common stockholders. What is the year-end 2008 balance in retained earnings for Night Scapes? A. $5 million B. $8 million C. $9 million D. $15 million 26. Fancy Paws' year-end price on its common stock is $20. The firm has total assets of $40 million, the debt ratio is 40%, there is no preferred stock, and there are 2 million shares of common stock outstanding. Calculate the market- to-book ratio for Fancy Paws. A. 0.47 B. 1.67 C. 8.00 D. 10.00 27. Corn Products Corp. ended the year 2011 with an average collection period of 40 days. The firm's credit sales for 2011 were $9 million. What is the approximate year end 2011 balance in accounts receivable for Corn Products? A. $225,000 B. $986,300 C. $4,444,400 D. $360,000,000