Question 14 5 pts The following data were abstracted from the 2013 December 31, balance sheet of Andrews Company: Cash $136,000 Marketable securities 64,000 Accounts and notes receivable, net 184,000 Merchandise inventory 244,000 Prepaid expenses 12,000 Accounts and notes payable, short-term 256,000 Accrued liabilities 64,000 Bonds payable, long-term 400,000 The current ratio is: 1 to 2 O2 to 1 3 to 1 1.2 to 1 Question 15 5 pts The following data were abstracted from the 2013 December 31, balance sheet of Andrews Company: Cash $136,000 Marketable securities 64,000 Accounts and notes receivable, net 184,000 Merchandise inventory 244,000 Prepaid expenses 12,000 Accounts and notes payable, short-term 256,000 Accrued liabilities 64,000 Bonds payable, long-term 400,000 The acid-test (or quick) ratio is: 1.2 to 1 1 to 2 O2 to 1 3 to 1 Question 16 5 pts Benson Company shows the following data on its 2013 financial statements: Accounts receivable, January 1 $720,000 Accounts receivable, December 31 960,000 Merchandise inventory, January 1 900,000 Merchandise inventory, December 31 1,020,000 Gross sales 4,800,000 Sales returns and allowances 180,000 Net sales 4,620,000 Cost of goods sold 3,360,000 Income before interest and taxes 720,000 Interest on bonds 192,000 Net income 384,000 The accounts receivable turnover is: 6.667 times per year. O 5-5 times per year. 5.714 times per year. 5 times per year. Question 17 5 pts Benson Company shows the following data on its 2013 financial statements: Merchandise inventory, January 1 900,000 Merchandise inventory, December 31 1,020,000 Net sales 4,620,000 Cost of goods sold 3,360,000 Interest on bonds 192,000 Net income 384,000 The inventory turnover is: 4 times per year. 5 times per year. O 3.5 times per year. 4.8125 times per year. Question 18 5 pts Betty Company shows the following data on its 2013 financial statements: Accounts receivable, January 1 $720,000 Accounts receivable, December 31 $ 960,000 Merchandise inventory, January 1 $900,000 Merchandise inventory, December 31 $1,020,000 Net sales 4,620,000 Cost of goods sold 3,360,000 Net income 384,000 The days' sales in inventory ratio is: Question 19 5 pts A Income statement data for Boston Company for 2009 and 2010 follow: 2009 2010 Net sales $2,610,000 $1,936,000 Cost of goods sold 1,829,600 1,256,400 Selling expenses 396,800 350,000 Administrative expenses 234,800 198,400 Federal income taxes 57,600 54,000 Calculate the dollar amount and percent of change for cost of goods sold only. O $(573,200) and 45.6% $573,200 and 31.3% $573,200 and 45.6% O $(573,200) and 31.3% D Question 20 5 pts An income statement data for Boston Company for 2015 and 2016 follow: 2015 2016 Net sales $2,610,000 $1,936,000 Cost of goods sold 1,829,600 1,256,400 Selling expenses 396,800 350,000 Administrative expenses 234,800 198,400 Federal income taxes 57,600 54.000 Calculate the common size percent for selling expenses in 2016. 11.79% O 15.20% O 2.79% 18.08%