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answer all please Comparatlve financial statements for Wellet Corporation, a merchandising company, for the year ending December 31 appear below. The company did not issue
answer all please
Comparatlve financial statements for Wellet Corporation, a merchandising company, for the year ending December 31 appear below. The company did not issue any new common stock during the year. A total of 500,000 shares of common stock were outstanding. The interest rate on the bond payable was 10%, the income tax rate was 40%, and the dividend per share of common stock was $0.75 fast year and $0.40 this year. The market value of the company's common stock at the end of this year was $21. All of the company's sales are on account. Required: Compute the following financial data for this year: 1. Accounts recelvable turnover. (Assume that all sales are on account.) (Rount y your answer to 2 decimal places.) 2. Average collection period. (Use 365 days in a year. Round your intermediate calculations and final answer to 2 decimal places.) 3. Inventory turnover. (Round your answer to 2 decimal places.) 4. Average sale period. (Use 365 days in a year. Round your intermediate calculations and final answer to 2 decimal places.) 5. Operating cycle. (Round your intermediate calculations and final answer to 2 decimal places.) 6. Total asset turnover. (Round your answer to 2 decimal places.) Step by Step Solution
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