6. During 2013, Columbia Inc. had beginning accounts receivable of $680,000 and ending ac-counts receivable of $760,000. Its net sales of $4,500,000 are composed of 20% cash sales and 80% credit sales. Based on this information, what is Columbia's average collection period? A.58.4 days B.292.0 days C.73.0 days D.5.0 days E.None of the answer choices is correct.

7. The following debt to equity ratio is for two companies in the same industry. Company A Company B Debt to equity ratio 4.5 to 1 13.6 to 1 Which of the following statements is always true?

A.Company A is more profitable than Company B.

B.Company B is more profitable than Company A.

C.Company A is more highly leveraged than Company B.

D.Company B is more highly leveraged than Company A.

E.None of the answer choices is correct

13. What is the debt to equity ratio for 2013 (rounded to two decimal places)? Xavier Company reported the following income statement and balance sheet amounts on December 31, 2013. 2013 2012 Net sales revenue (all credit) $1,700,000 Cost of goods sold 1,040,000 Gross margin 660,000 Selling and general expenses 420,000 Interest expense 60,000 Net income $ 180,000 Current assets $ 100,000 $ 90,000 Long-term assets 830,000 800,000 Total assets $930,000 $890,000 Current liabilities $ 72,000 $ 56,000 Long-term liabilities 204,000 390,000 Common stockholders equity 654,000 444,000 Total liabilities and stockholders' equity $930,000 $890,000 Inventory and prepaid expenses account for $50,000 of the 2013 current assets. Average inventory for 2013 is $36,000. Average net accounts receivable for 2013 is $62,000. Average one-day sales are $5,900. There are 12,000 shares of common stock outstanding at the end of 2013. The market price per share of common stock is $27 at the end of 2013. The EPS for 2013 is equal to $1.50 per share. A.0.11 B.0.30 C.0.42 D.0.31 E.None of the answer choices is correct.