Q1 Question 1 a) A bondholder of a corporation would prefer which of the following items to increase? Note: the bondholder is someone who has bought a bond in the corporation, or in other words has made a loan to the company. Debt to total assets ratio Times-interest-earned ratio Cost of goods sold to net sales Average age of inventory b) Joliet's 2009 and 2010 financial statements included the following data: 2009 2010 Accounts Receivable $ 150,000 $ 250,000 Inventory 150.000 195,000 Total Assets 946,000 878,000 Net Sales (all on credit) 2,000,000 2,200,000 Cost of Goods Sold 1,300,000 1,500,000 Assume a 360-day year for all calculations. What is the average age of Joliet's inventory for 2010? 41.4 days 41.5 days 44.3 days 46.8 days c) In 2007, Alca Co. issued a long-term note payable that would come due on May 15, 2011. On its December 31, 2010 balance sheet, this note should be classified as alan) short-term liability intangible asset long-term investment expense