Markus Company's common stock sold for $6.00 per share at the end of this year. The company paid a common stock dividend of $0.96 per share this year. It also provided the following data excerpts from this year's financial statements: Ending Balance Beginning Balance Cash $ 54,000 $ 48,200 Accounts receivable $ 102,000 5 73,700 Inventory $ 82,000 $ 102,000 Current assets $ 238,000 $ 223,900 Total assets $ 900,000 $ 998,000 Current liabilities $ 93,000 $ 103,500 Total liabilities $ 220,000 $ 198,000 Connon stock, $1 par value $ 178,000 $ 178,000 Total stockholders' equity $ 680,000 $ 800,000 Total liabilities and stockholders' equity $ 900,000 $ 998,000 This Year Sales (all on account) 5 1,210,000 Cost of goods sold $701,800 Gross margin $ 508,200 Net operating income $ 378,000 Interest expense $ 18,000 Net incone $ 252,000 Foundational 14-9 (Algo) 9 What is the accounts receivable turnover and the average collection period? (Use 365 days in a year. Round your intermediate and final answers to 2 decimal places.) Accounts receivable tumover Average collection period days Markus Company's common stock sold for $6.00 per share at the end of this year. The company paid a common stock dividend of $0.96 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 Total liabilities Common stock, $1 par value Total stockholders' equity Total liabilities and stockholders' equity Ending Balance $ 54,000 $ 102,000 $ 82,000 $ 238,000 $ 900,000 $ 93,000 $ 220,000 $ 178,000 $ 680,000 $ 900,000 Beginning Balance $ 48,200 $ 73,700 $ 102,000 $ 223,900 $ 998,000 $ 103,500 $ 198,000 $ 178,000 $ 800,000 $ 990,000 Sales all on account) Cost of goods sold Gross margin Net operating income Interest expense Net Income This Year $ 1,210,000 $ 701,800 $ 508,200 $ 378,000 $ 18,000 $ 252,000 Foundational 14-10 (Algo) 10. What is the inventory turnover and the average sale period? (Use 365 days in a year. Round your intermediate and final answers to 2 decimal places.) Inventory turnover Average sale period days Markus Company's common stock sold for $6.00 per share at the end of this year. The company paid a common stock dividend of $0.96 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 Total liabilities Common stock, $1 par value Total stockholders' equity Total liabilities and stockholders' equity Ending Balance $ 54,000 $ 102,000 $ 82,000 $ 238,000 5 900,000 $ 93,000 $ 220,000 $ 178,000 $ 680,000 $ 900,000 Beginning Balance $ 48,200 $ 73, 700 $ 102,000 $ 223,900 $ 998,000 $ 103,500 $ 198,000 $ 178,000 $ 800,000 $ 998,000 Sales (all on account) Cost of goods sold Gross margin Net operating income Interest expense Net income This Year $ 1,210,000 $ 701,800 $ 508,200 $ 378,000 $ 18,000 $ 252,000 Foundational 14-11 (Algo) 11. What is the company's operating cycle? (Use 365 days in a year. Round your intermediate and final andiver to 2 decimal places.) Operating cycle days
