Question
Markus Company's common stock sold for $1.50 per share at the end of this year. The company paid a common stock dividend of $0.39
Markus Company's common stock sold for $1.50 per share at the end of this year. The company paid a common stock dividend of $0.39 per share this year. It also provided the following data excerpts from this year's financial statements: Cashi Accounts receivable Inventory Current assets Total assets Current liabilities Total liabilities Common stock, $1 par value Total stockholders' equity Ending Balance Beginning Balance $ 24,500 $ 40,800 $ 42,000 $ 42,400 $ 108,900 $ 302,000 $ 46,500 $ 92,000 $ 38,800 $ 42,000 $ 121,600 $ 242,800 $ 31,500 $ 82,800 $ 107,000 $ 107,000 $ 210,000 $ 160,000 Total liabilities and stockholders' equity $ 302,000 $ 242,800 This Year Sales (all on account) $ 480,000 $ 278,400 Cost of goods sold Gross margin Net operating income Interest expense Net income $ 201,600 $ 32,500 $ 2,000 $ 21,350 Foundational 14-11 (Algo) 11. What is the company's operating cycle? (Use 365 days in a year. Round your intermediate and final answer to 2 decimal places.)
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