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Bevington Studio reported the following income statement and balance sheet amounts on December 31, 2007. Inventory and prepaid expenses account for $20,000 of the 2007

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Bevington Studio reported the following income statement and balance sheet amounts on December 31, 2007. Inventory and prepaid expenses account for $20,000 of the 2007 current assets, Average inventory for 2007 is $15,000. Average net accounts receivable for 2007 is $30,000. Average one-day sales are $3,150. There are 7,000 shares of common stock outstanding. Total dividends paid during 2007 were $140,000. The market price per share of common stock is $21. Bevington Studio reported the following income statement and balance sheet amounts on December 31, 2007. Inventory and prepaid expenses account for $20,000 of the 2007 current assets, Average inventory for 2007 is $15,000. Average net accounts receivable for 2007 is $30,000. Average one-day sales are $3,150. There are 7,000 shares of common stock outstanding. Total dividends paid during 2007 were $140,000. The market price per share of common stock is $21

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