Exercise 192 Flite Corporation has issued common stock only. The company has been successful and has a gross profit rate of 20%. The information shown below was taken from the company's financial statements.

Beginning inventory	$ 482,000
Purchases	4,036,000
Ending inventory	?
Average accounts receivable	800,000
Average common stockholders' equity	3,500,000
Sales (all on credit)	5,000,000
Net income	385,000

Compute the following:

Accounts receivable turnover and the average collection period.(Round answers to 2 decimal places, e.g. 52.75.)

Accounts receivable turnover		times
Average collection period		days

LINK TO TEXT

Inventory turnover and the days in inventory.(Round answers to 1 decimal place, e.g. 52.7.)

Inventory turnover		times
Days in Inventory		days

LINK TO TEXT

Return on common stockholders' equity.

Return on common stockholders' equity

%

LINK TO TEXT