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I just want to know if my answer is correct, and how to get the answer. Thanks. For the Balk Corp. in 2018: Balance Sheet

I just want to know if my answer is correct, and how to get the answer. Thanks.

For the Balk Corp. in 2018: Balance Sheet ($000s): Dec 31, 2018 | Dec 31, 2017 | Average Cash: 420,000 | 120,000 | 270,000 Accounts receivable, net: 492,000 | 300,000 | 396,000 Inventories: 412,000 | 340,000 | 376,000 Plant and equipment, net: 1,700,000 | 1,112,000 | 1,406,000 Accumulated Depreciation: (184,000) | (192,000) | (188,000) Total Assets: 2,840,000 | 1,680,000 | 2,260,000 Accounts payable: 240,000 | 160,000 | 200,000 Dividends Payable: | 40,000 | 20,000 Short-Term Debt: 100,000 | | 50,000 Long-Term Debt: 300,000 | | 150,000 Common stock ($1.00 par): 120,000 | 80,000 | 100,000 Additional paid in capital: 1,540,000 | 1,120,000 | 1,330,000 Retained Earnings: 540,000 | 280,000 | 410,000 Treasury Stock, (2000, 1600 shares): | | Total Liabilities and Equities: 2,840,000 | 1,680,000 | Income Statement Year Ended: Dec 31, 2018 Net sales: 2,400,000 Cost of goods sold: 1,600,000 Gross profit: 800,000 Selling and General Expenses: 500,000 Operating income: 300,000 Earnings from affiliates: Interest expense: 10,000 Earnings before Taxes: 290,000 Income tax expense: 87,000 Net income: 203,000 Market value of the stock on Dec 31, 2018 is $80 per share Balk Corp. sold 40000 shares of common stock on Jan 1, 2018

- C.

Current ratio at Dec 31, 2018

- B.

Acid test ratio Dec 31, 2018

- A.

Receivables Turnover in 2018

- D.

Inventory Turnover in 2018

A.

2400000 396000

B.

912000 340000

C.

1324000 340000

D.

1600000 376000

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