Cornerstone Co. Balance Sheet Accounts 12/31/18 $2,100 392 128 500 250 12/31/17 Bonds Payable $2,100 Cash 400 Accounts Receivable 145 Preferred Stock 500 Accounts Payable 244 Land 3,285 Common Stock 1,200 Inventory 480 Retained Earnings 320 Unearned Rent Revenue (to be earned in 2 months) 40 Prepaid Insurance (3-month policy) 114 Taxes Payable 20 3,285 1,200 520 400 28 173 20 Cornerstone Co. Income Statement Accounts For Year Ended 12/31/18 $60 Insurance Expense Interest Expense Cost of Goods Sold 32 1,500 Rent Revenue 25 Cornerstone Co. Income Statement Accounts For Year Ended 12/31/18 $60 32 Insurance Expense Interest Expense Cost of Goods Sold Rent Revenue Net Sales Revenue Tax Expense 1,500 25 2,000 27 Other Information 2018 Dividends to Common Shareholders $40 2018 Dividends to Preferred Shareholders $200 2018 Common Shares outstanding 100sh 2018 Preferred Shares outstanding 50sh 2018 Stock Price $100 All Sales on credit Note: Use the Cornerstone Co. data and the Reference Sheet to assist you in answering the following question. Note: Use the Cornerstone Co. data and the Reference Sheet to assist you in answering the following question. What is the 2018 Inventory Turnover Ratio? Select one: a. 4.00 O b.3.13 OC. 3.00 d. 1.00 e. 2.88 Cornerstone Co. Balance Sheet Accounts 12/31/18 $2,100 392 128 500 250 12/31/17 Bonds Payable $2,100 Cash 400 Accounts Receivable 145 Preferred Stock 500 Accounts Payable 244 Land 3,285 Common Stock 1,200 Inventory 480 Retained Earnings 320 Unearned Rent Revenue (to be earned in 2 months) 40 Prepaid Insurance (3-month policy) 114 Taxes Payable 20 3,285 1,200 520 400 28 173 20 Cornerstone Co. Income Statement Accounts For Year Ended 12/31/18 $60 Insurance Expense Interest Expense Cost of Goods Sold 32 1,500 Cornerstone Co. Income Statement Accounts For Year Ended 12/31/18 $60 32 1,500 Insurance Expense Interest Expense Cost of Goods Sold Rent Revenue Net Sales Revenue Tax Expense 25 2,000 27 Other Information 2018 Dividends to Common Shareholders 2018 Dividends to Preferred Shareholders 2018 Common Shares outstanding 2018 Preferred Shares outstanding 2018 Stock Price $40 $200 100sh 50sh $100 All Sales on credit Note: Use the Cornerstone Co. data and the Reference Sheet to assist you in answering the question. What is the 2018 Days in Inventory? All Sales on credit Note: Use the Cornerstone Co. data and the Reference Sheet to assist you in answering the question. What is the 2018 Days in Inventory? Select one: a. 122 b. 91 O c. 117 d. 365 e. 127 Cornerstone Co. Balance Sheet Accounts 12/31/17 $2,100 12/31/18 $2,100 400 392 145 500 Bonds Payable Cash Accounts Receivable Preferred Stock Accounts Payable Land Common Stock Inventory Retained Earnings Uneared Rent Revenue (to be earned in 2 months) Prepaid Insurance (3-month policy) Taxes Payable 244 3,285 1,200 128 500 250 3,285 1,200 520 400 480 320 40 114 173 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 Cornerstone Co. Income Statement Accounts For Year Ended 12/31/18 $60 32 1,500 Insurance Expense Interest Expense Cost of Goods Sold Rent Revenue Net Sales Revenue Tax Expense 25 2,000 27 Other Information 2018 Dividends to Common Shareholders 2018 Dividends to Preferred Shareholders 2018 Common Shares outstanding 2018 Preferred Shares outstanding 2018 Stock Price $40 $200 100sh 50sh $100 All Sales on credit Note: Use the Cornerstone Co. data and the Reference Sheet to assist you in answering the question. What is the 2018 Receivables Turnover Ratio? Note: Use the Cornerstone Co. data and the Reference Sheet to assist you in answering the question. What is the 2018 Receivables Turnover Ratio? Select one a. 15.63 b. 14.65 C. 3.66 d. 7.33 e. 10.99 Balance Sheet Accounts 12/31/18 $2,100 392 128 500 250 12/31/17 Bonds Payable $2,100 Cash 400 Accounts Receivable 145 Preferred Stock 500 Accounts Payable 244 Land 3,285 Common Stock 1,200 Inventory 480 Retained Earnings 320 Unearned Rent Revenue (to be earned in 2 months) 40 Prepaid Insurance (3-month policy) 114 Taxes Payable 20 3,285 1,200 520 400 28 173 20 Cornerstone Co. Income Statement Accounts For Year Ended 12/31/18 $60 32 1,500 Insurance Expense Interest Expense Cost of Goods Sold Rent Revenue Net Sales Revenue Tax Expense 25 2,000 27 Other Information $40 $200 100sh 2018 Dividends to Common Shareholders 2018 Dividends to Preferred Shareholders 2018 Common Shares outstanding 2018 Preferred Shares outstanding 50sh 2018 Stock Price $100 All Sales on credit Note: Use the Cornerstone Co. data and the Reference Sheet to assist you in answering the following question. What is the 12/31/18 Debt-to-Total-Assets Ratio? Select one: O a..64 b. 52 C..53 O d..54 O e..55