Question
5/ Refer to the following selected financial information from McCormik, LLC. Compute the company's working capital for Year 2. Year 2 Year 1 Cash $
5/ Refer to the following selected financial information from McCormik, LLC. Compute the company's working capital for Year 2.
Year 2 | Year 1 | ||||||
Cash | $ | 39,100 | $ | 33,850 | |||
Short-term investments | 106,000 | 68,000 | |||||
Accounts receivable, net | 93,500 | 87,500 | |||||
Merchandise inventory | 129,000 | 133,000 | |||||
Prepaid expenses | 13,700 | 11,300 | |||||
Plant assets | 396,000 | 346,000 | |||||
Accounts payable | 105,400 | 115,800 | |||||
Net sales | 719,000 | 684,000 | |||||
Cost of goods sold | 398,000 | 383,000 | |||||
Multiple Choice
$169,900.
$262,200.
$275,900.
$146,900.
$182,400.
6/ A corporation reported cash of $25,400 and total assets of $453,000 on its balance sheet. Its common-size percent for cash equals:
Multiple Choice
17.83%.
56.10%.
100.00%.
5.61%.
1783%.
7/ Refer to the following selected financial information from Graceworks, Corp. Compute the company's days' sales in inventory for Year 2. (Use 365 days a year.)
Year 2 | Year 1 | |||
Merchandise inventory | 290,000 | 272,500 | ||
Cost of goods sold | 467,400 | 414,100 | ||
Multiple Choice
226.5.
255.6.
240.2
212.8
232.9
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