Fixed expenses Rent Salaries Jon to answer the following ques $ 24,000 $40,000 $13,000 Depreciation Variable expenses Cost of goods sold Supplies Sales commissions 58% of sales 7% of sales 5% of sales a) What is the company's contribution margin ratio? b) What is the break-even point in dollars c) If the company wants to earn a profit of $35,000 instead of breaking even, what is the amount of sales or revenue dollars the company must achieve? 2. For its most recent year a company had Sales (all on credit) of $930,000 and Cost of Goods Sold of $425,000. At the beginning of the year its Accounts Receivable were $90,000 and its Inventory was $120,000. At the end of the year its Accounts Receivable were $96,000 and its Inventory was $130,000. a) Calculate the inventory Turnover ratio. b) The accounts receivable turnover ratio c) On average how many days of sales were in Accounts Receivable during the year? d) On average how many days of sales were in Inventory during the year? 3. A company's net income after tax was $400,000 for its most recent year. The company's income statement included Income Tax Expense of $240,000 and Interest Expense of $80,000. At the beginning of the year the company's stockholders' equity was $1,900,000 and at the end of the year it was $2,100,000. a) What is the times interest earned for the company? b) What is the after-tax return on stockholder's equity for the year?