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Markus Company's common stock sold for $3.50 per share at the end of this year. The company paid a common stock dividend of $0.63 per
Markus Company's common stock sold for $3.50 per share at the end of this year. The company paid a common stock dividend of $0.63 per share this year. It also provided the following data excerpts from this year's financial statements: Cash Accounts receivable Inventory Current assets Total assets Current liabilities Ending Balance $ 35,000 Beginning Balance $ 34,000 $ 70,000 $ 55,000 $ 60,700 $165,700 $ 557,000 $67,500 $ 152,000 $ 133,000 $ 70,000 $ 159,000 $ 586,800 $ 55,500 $136,800 $ 133,000 $450,000 $ 586,800 Total liabilities Common stock, $1 par value Total stockholders' equity $ 405,000 Total liabilities and stockholders' equity $ 557,000 This Year Sales (all on account) $ 825,000 $ 478,500 Cost of goods sold Gross margin Net operating income Interest expense Net income $ 346,500 $194,250 $ 10,500 $ 128,625 11. What is the company's operating cycle? (Use 365 days in a year. Round your intermediate and final Operating cycle days
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