Mask Corp earned net income of $18,000 on Sales of $360,000 Its assets totaled $400,000 consisting of Cash of $10,000, Accounts Receivable of $90 000, Inventory of 108,000 and Equipment with a book value of $192,000 Its liabilities totaled 280,000 consisting of Accounts Payable of $80,000 due in 30 days and Bonds Payable of $200,000 due in 10 years Its Common Stock was $20,000 and its Retained Earnings was $100,000 The average balances of the balance sheet accounts and their year end balances were the same What was the Current Ratio a 1 00 b 2 60 c 1 43 d 5 00 e 0 74 Using the same data Mask Corp earned net income of $18,000 on Sales of $360,000 Its assets totaled $400,000 consisting of Cash of $10,000, Accounts Receivable of $90 000, Inventory of 108,000 and Equipment with a book value of $192,000 Its liabilities totaled 280,000 consisting of Accounts Payable of $80,000 due in 30 days and Bonds Payable of $200,000 due in 10 years Its Common Stock was $20,000 and its Retained Earnings was $100,000 The average balances of the balance sheet accounts and their year end balances were the same What was the Accounts Receivable Turnover a 4 times b 4 c 4 days d $0 25 Using the same data Mask Corp earned net income of $18,000 on Sales of $360,000 Its assets totaled $400,000 consisting of Cash of $10,000, Accounts Receivable of $90 000, Inventory of 108,000 and Equipment with a book value of $192,000 Its liabilities totaled 280,000 consisting of Accounts Payable of $80,000 due in 30 days and Bonds Payable of $200,000 due in 10 years Its Common Stock was $20,000 and its Retained Earnings was $100,000 The average balances of the balance sheet accounts and their year end balances were the same What was the Debt Ratio a 100 b 50 c 20 d 70 Using the same data Mask Corp earned net income of $18,000 on Sales of $360,000 Its assets totaled $400,000 consisting of Cash of $10,000, Accounts Receivable of $90 000, Inventory of 108,000 and Equipment with a book value of $192,000 Its liabilities totaled 280,000 consisting of Accounts Payable of $80,000 due in 30 days and Bonds Payable of $200,000 due in 10 years Its Common Stock was $20,000 and its Retained Earnings was $100,000 The average balances of the balance sheet accounts and their year end balances were the same What was the Return on Total Assets Ratio a 90 b 25 c 5 d 15 e 4 5

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Mask Corp. earned net income of $18,000 on Sales of $360,000. Its assets totaled $400,000 consisting of Cash of $10,000, Accounts Receivable of $90.000, Inventory

Mask Corp. earned net income of $18,000 on Sales of $360,000. Its assets totaled $400,000 consisting of Cash of $10,000, Accounts Receivable of $90.000, Inventory of 108,000 and Equipment with a book value of $192,000. Its liabilities totaled 280,000 consisting of Accounts Payable of $80,000 due in 30 days and Bonds Payable of $200,000 due in 10 years. Its Common Stock was $20,000 and its Retained Earnings was $100,000. The average balances of the balance sheet accounts and their year-end balances were the same. What was the Current Ratio?

		a. 1.00
		b. 2.60
		c. 1.43
		d. 5.00
		e. 0.74

Using the same data: Mask Corp. earned net income of $18,000 on Sales of $360,000. Its assets totaled $400,000 consisting of Cash of $10,000, Accounts Receivable of $90.000, Inventory of 108,000 and Equipment with a book value of $192,000. Its liabilities totaled 280,000 consisting of Accounts Payable of $80,000 due in 30 days and Bonds Payable of $200,000 due in 10 years. Its Common Stock was $20,000 and its Retained Earnings was $100,000. The average balances of the balance sheet accounts and their year-end balances were the same. What was the Accounts Receivable Turnover?