Excerpts from Sydner Corporation's most recent balance sheet appear below 7 Year 2 Year Current assets: Cash Accounts receivable, net Inventory Prepaid expenses $140 210 240 10 $600 $360 160 230 200 10 $600 Total current assets Total current liabilities 330 Sales on account in Year 2 amounted to $1,390 and the cost of goods sold was $900 The accounts receivable turnover for Year 2 is closest to Multiple Choice 6.62 1.10 6.32 0.91 Burdick Corporation has provided the following financial data from its balance sheet: Year $ 266, 000 $ 162, 000 1, 415, 000 $ 991, 000 Year 1 $250, 000 $ 190, 000 $1, 390, 000 $ 970, 000 2 Accounts receivable, net Inventory Total assets Total stockholders' equity Sales (all on account) in Year 2 amounted to $1,410,000 and the cost of goods sold was $860,000 The company's equity multiplier at the end of Year 2 is closest to Multiple Choice 0.70 1.43 2.34 0.43 Garrott Corporation's total assets were $1,505,000 at the end of Year 2 and $1,520,000 at the end of Year 1. Its total stockholders' equity was $1,197000 at the end of Year 2 and $1,180,000 at the end of Year 1 Income Statement For the Year Ended December 31, Year 2 Sales (al on account) Cost of goods sold Gross margin Operating expenses Net operating income Interest expense Net income before taxes Income taxes (30%) Net income $1, 340, 000 830, 000 510, 000 465, 143 44, 857 9, 000 35, 857 10, 757 $ 25, 100 The company's net profit margin percentage for Year 2 is closest to Multiple Choice 1.9% 2.7% 3.3%