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A corporation reports the following year-end balance sheet data. The company's acid-test ratio equals: Cash Accounts receivable Inventory Equipment Total assets $ 58,000 Current liabilities

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A corporation reports the following year-end balance sheet data. The company's acid-test ratio equals: Cash Accounts receivable Inventory Equipment Total assets $ 58,000 Current liabilities 73,000 Long-term liabilities 178,000 Common stock 163,000 Retained earnings $372,000 Total liabilities and equity $ 93,000 44,000 118,000 117,000 $372,000 Multiple Choice 0.58 141 2.25 0.37 0.53 Selected current year company information follows: Net income Net sales Total liabilities, beginning-year Total liabilities, end-of-year Total stockholders' equity, beginning-year Total stockholders' equity, end-of-year $ 17,153 724, 855 95,932 115, 201 210,935 139,851 The total asset turnover is: (Do not round Intermediate calculations.) Multiple Choice O 284 umes 6.11 times 237 times 236 times O 258 times Selected current year company information follows: Net income Net sales Total liabilities, beginning-year Total liabilities, end-of-year Total stockholders' equity, beginning-year Total stockholders' equity, end-of-year $ 17, 253 725,855 96, 932 116, 201 211,935 141, 351 The retum on total assets is: (Do not round Intermediate calculations.) Multiple Choice 2.829 O 238% 6.09% 235% O 256% Use the following selected information from Whitman Corp. to determine the Year 1 and Year 2 common size percentages for cost of goods sold using Net sales as the base. Het sales Cost of goods sold Operating expenses Met earnings Year 2 Year 1 $587,800 $474,600 237,400 137,000 86,590 83,450 43,789 31,00 Mundo Choice O res for You 2 and 235.8% for You 557 for Wow 2 und 46 6s for Your O2 for Your 2 and 8000s for Your O404% for Year 2 and 28.9for Your 75 for Yow 2nd 65% for

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