QUESTION 24 Fenwick Holdings reported cash sales in 2014 of $220,000. Accounts receivable at the beginning of the year totaled $420,000, with a balance of $490,000 at the end of the year. If the company's accounts receivable turnover is 3.5 for the year, how much are its total sales for the year? $2,250,000 O $1,715,000 O $1,495,000 $1,935,000 QUESTION 25 Real Crisp Company reported cost of goods sold of $800,000 last year. The company's beginning inventory balance was $58,000 and the ending inventory balance was $54,000. How many days will it take the company to sell its inventory as of year end? 13.8 days 14.8 days 24.6 days 26.5 days QUESTION 22 Wangley Company has an inventory turnover of 8. Which statement is true? Wangley has about 2 months of sales in its inventory. Wangley takes about 46 days from the time an item is sold until Wangley collects the cash. Wangley takes about one month from the time an item is purchased until the cash is collected from the sale of the inventory. Wangley sells it inventory 8 times faster than other companies. QUESTION 23 Redzone Corporation reported $400,000 in sales on account plus another $60,000 in cash sales last year. Cost of goods sold for the period totaled $220,000. The beginning balance in accounts receivable was $32,000 and the ending balance was $50,000. How much is the company's accounts receivable turnover? 9.2 times 4.8 times 8.0 times 12.5 times QUESTION 16 Denton Limited Company reported earnings per share of common stock $2 in 2014 and paid dividends of $1.50 per share. Denton has no preferred stock issued. The current market price per share is $15 and the book value per share is $14. How much is Denton's price-earnings ratio? $6.75 $7.50 $7.00 $30.00 QUESTION 17 Asset turnover is net income divided by sales. net sales divided by total assets. net sales divided by current assets. earnings per share divided by the market price per share of stock