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Comparative financial statements for Homelander Corporation, a merchandising company, for the year ending December 31 appear below. The company did not issue any new common

Comparative financial statements for Homelander 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 700,000 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 last year and $0.40 this year. The market value of the companys common stock at the end of the year was $28. All of the companys sales are on account.

Homelander Corporation Comparative Balance Sheet (dollars in thousands)
This Year Last Year
Assets
Current assets:
Cash $ 1,130 $ 1,400
Accounts receivable, net 10,600 7,200
Inventory 13,600 10,600
Prepaid expenses 610 520
Total current assets 25,940 19,720
Property and equipment:
Land 9,900 9,900
Buildings and equipment, net 48,604 43,000
Total property and equipment 58,504 52,900
Total assets $ 84,444 $ 72,620
Liabilities and Stockholders' Equity
Current liabilities:
Accounts payable $ 19,300 $ 18,900
Accrued liabilities 1,070 730
Notes payable, short term 120 120
Total current liabilities 20,490 19,750
Long-term liabilities:
Bonds payable 9,000 9,000
Total liabilities 29,490 28,750
Stockholders' equity:
Common stock 700 700
Additional paid-in capital 4,000 4,000
Total paid-in capital 4,700 4,700
Retained earnings 50,254 39,170
Total stockholders' equity 54,954 43,870
Total liabilities and stockholders' equity $ 84,444 $ 72,620
Homelander Corporation Comparative Income Statement and Reconciliation (dollars in thousands)
This Year Last Year
Sales $ 75,650 $ 65,000
Cost of goods sold 37,510 32,000
Gross margin 38,140 33,000
Selling and administrative expenses:
Selling expenses 11,200 10,900
Administrative expenses 7,100 6,400
Total selling and administrative expenses 18,300 17,300
Net operating income 19,840 15,700
Interest expense 900 900
Net income before taxes 18,940 14,800
Income taxes 7,576 5,920
Net income 11,364 8,880
Dividends to common stockholders 280 350
Net income added to retained earnings 11,084 8,530
Beginning retained earnings 39,170 30,640
Ending retained earnings $ 50,254 $ 39,170

Compute the following financial data for this year:

image text in transcribed

1. Accounts receivable turnover days 2. Average collection period 3. Inventory turnover 4. Average sale period 5. Operating cycle days days 6. Total asset turnover

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