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Cornerstone Co. Balance Sheet Accounts 12/31/17 12/31/18 Bonds Payable $2,100 $2,100 Cash 400 392 145 128 500 Accounts Receivable Preferred Stock Accounts Payable Land 500
Cornerstone Co. Balance Sheet Accounts 12/31/17 12/31/18 Bonds Payable $2,100 $2,100 Cash 400 392 145 128 500 Accounts Receivable Preferred Stock Accounts Payable Land 500 244 250 3,285 3,285 1,200 1,200 480 520 320 400 Common Stock Inventory Retained Earnings Unearned Rent Revenue (to be earned in 2 months) Prepaid Insurance (3-month policy) Taxes Payable 40 28 114 173 20 20 Cornerstone Co. Income Statement Accounts For Year Ended 12/31/18 $60 32 Insurance Expense Interest Expense Cost of Goods Sold Rent Revenue 1,500 25 Net Sales Revenue 2,000 Tax Expense 27 Other Information $40 2018 Dividends to Common Shareholders 2018 Dividends to Preferred Shareholders 2018 Common Shares outstanding 2018 Preferred Shares outstanding 2018 Stock Price $200 100sh 50sh $100 All Sales on credit Other Information $40 $200 2018 Dividends to Common Shareholders 2018 Dividends to Preferred Shareholders 2018 Common Shares outstanding 2018 Preferred Shares outstanding 2018 Stock Price 100sh 50sh $100 All Sales on credit What is the 2018 Receivables Turnover Ratio? Select one: O a 15.63 ob 14.65 Oc 3.66 O d. 7.33 O e. 10.99
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