Dividends paid to stockholders are:

a. taxable to the recipient stockholder

b. taxable to the corporation

c. treated the same as bond interest

d. None of the above

If beginning and ending inventories are $20,000 and $30,000, repectively, and cost of goods sold is $400,000, what is the inventory turnover ratio?

a. 18

b. 16

c. 15.5

d. 15