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Weekly Homework Chapter 15 Saved 15 Dahn Corporation has provided the following financial data: 1.25 points Year 1 eBook $ 150,000 130,000 130,000 80,000 490,000 B40,000 $1,330,000 Print References Balance Sheet December 31, Year 2 and Year 1 Assets Year 2 Current assets Cash $ 227,000 Accounts receivable, net 134,000 Inventory 150,000 Prepaid expenses 83,000 Total current assets 594,000 Plant & equipment, net 769,000 Total assets $1,363,000 Liabilities and Stockholders' Equity Current liabilities: Accounts payable $ 200,000 Accrued liabilities 63,000 Notes payable, short term 71,000 Total current liabilities 334,000 Bonds payable 290,000 Total liabilities 624,000 Stockholders' equity: Common stock, $5 par value 400,000 Additional paid-in capital 50,000 Retained earnings 289,000 Total stockholders' equity 739,000 Total liabilities & stockholders' equity $1,363,000 $ 180,000 70,000 60,000 310,000 290,000 600,000 400,000 50,000 280,000 730,000 $1,330,000 Income Statement For the Year Ended December 31, Year 2 15 290,000 624,000 290,000 600,000 Bonds payable Total liabilities Stockholders' equity: Common stock, $5 par value Additional paid-in capital Retained earnings Total stockholders' equity Total liabilities & stockholders' equity 400, eee Se, een 289,000 739,000 $1,363,000 400,000 50,000 280,000 730,000 $1,330,000 200 int aces Income Statement For the Year Ended December 31, Year 2 Sales (all on account) $1,370,000 Cost of goods sold 850,000 Gross margin 520,000 Operating expenses 482,692 Net operating income 37, 308 Interest expense 21,000 Net income before taxes 16,308 Income taxes (35%) 5,708 Net income $ 10,600 Dividends on common stock during Year 2 totaled $1,600. The market price of common stock at the end of Year 2 was $2.37 per share The company's accounts receivable turnover for Year 2 is closest to: Multiple Choice n07 B CA Navt Weekly Homework Chapter 15 15 WA Not income before taxes Income taxes (35) Net income 16,300 5,705 10,600 5 Dividends on common stock cuming Year 2 totaled 51600 The market price of common stock at the end of Year 2 was $2.37 per share The company's accounts receivable turnover for Year 2 ks closest to Me Choce O 0.8 O 103 1022