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At the end of the year, the following Information was obtained from the accounting records of Harrison Electronics, Inc. $2,750,000 1,781,000 Sales (all on
At the end of the year, the following Information was obtained from the accounting records of Harrison Electronics, Inc. $2,750,000 1,781,000 Sales (all on credit) Cost of goods sold Average inventory Average accounts receivable Interest expense Income tax expense Net income Average investment in assets Average stockholders' equity 375,000 282,eee 45,000 84,000 159,000 1,800,000 895,000 Required: a. From the Information given: 1. Compute the Inventory turnover. (Round your answer to 2 decimal places.) 2. Compute the accounts receivable turnover. (Round your answer to 2 decimal places.) 3. Compute the total operating expenses. 4. Compute the gross profit percentage. (Round your answer to nearest whole percentage. L.e.0.123 as 12%.) 5. Compute the return on average stockholders' equity. (Round your percentage answer to 1 decimal place. 1.e. 0.1234 as 12.3%.) 6. Compute the return on average assets. a-1. Inventory turnover a-2. Accounts receivable turnover a-3. Total operating expenses a-4. Gross profit percentage a-5. Return on average stockholder's equity a-8. Return on average assets times times % % %
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