Required information The Foundational 15 (Algo) (LO14-2, LO14-3, LO14-4, LO14-5, LO14-6] [The following information applies to the questions displayed below.] Markus Company's common stock sold for $3.75 per share at the end of this year. The company paid a common stock dividend of $0.60 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' equit Total liabilities and stockholders' equity Ending Balance $ 41,000 $ 74,000 $ 64,900 $ 179,900 $ 590,000 $ 70,500 $ 160,000 $ 139,000 $ 430,000 $ 590,000 Beginning Balance $ 36,200 $ 58,700 $ 74,000 $ 168,900 $ 624,000 $ 63,000 $ 144,000 $ 139,000 80,000 $ 624,000 Sales (all on account) Cost of goods sold Gross margin Net operating income Interest expense Net income This Year $ 865,000 $ 501,700 $ 363,300 $ 206,250 $ 11,000 $ 136, 675 Foundational 14-4 (Algo) 4. What is the return on total assets (assuming a 30% tax rate)? (Round percentage answer to 1 decimal place. i.e., 0.123 should be considered as 12.3%) Return on total assets 22.5% Required information The Foundational 15 (Algo) (LO14-2, LO14-3, LO14-4, LO14-5, LO14-6] [The following information applies to the questions displayed below.] Markus Company's common stock sold for $3.75 per share at the end of this year. The company paid a common stock dividend of $0.60 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 $ 41,000 $ 74,000 $ 64,900 $ 179,900 $ 590,000 $ 70,500 $ 160,000 $ 139,000 $ 430,000 $ 590,000 Beginning Balance $ 36,200 $ 58,700 $ 74,000 $ 168,900 $ 624,000 $ 63,000 $ 144,000 $ 139,000 $ 480,000 $ 624,000 Sales (all on account) Cost of goods sold Gross margin Net operating income Interest expense Net income This Year $ 865,000 $ 501,700 $ 363,300 $ 206,250 $ 11,000 $ 136,675 Foundational 14-8 (Algo) 8. What is the acid-test ratio at the end of this year? (Round your answer to 2 decimal places.) Acid-test ratio Required information The Foundational 15 (Algo) (LO14-2, LO14-3, LO14-4, LO14-5, LO14-6] [The following information applies to the questions displayed below.] Markus Company's common stock sold for $3.75 per share at the end of this year. The company paid a common stock dividend of $0.60 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 $ 41,000 $ 74,000 $ 64,900 $ 179,900 $ 590,000 $ 70,500 $ 160,000 $ 139,000 $ 430,000 $ 590,000 Beginning Balance $ 36, 200 $ 58,700 $ 74,000 $ 168,900 $ 624,000 $ 63,000 $ 144,000 $ 139,000 $ 480,000 $ 624,000 Sales (all on account) Cost of goods sold Gross margin Net operating income Interest expense Net income This Year $ 865,000 $ 501,700 $ 363,300 $ 206,250 $ 11,000 $ 136,675 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 turnover Average collection period days Required information The Foundational 15 (Algo) (LO14-2, LO14-3, LO14-4, LO14-5, LO14-6) [The following information applies to the questions displayed below.] Markus Company's common stock sold for $3.75 per share at the end of this year. The company paid a common stock dividend of $0.60 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 $ 41,000 $ 74,000 $ 64,900 $ 179,900 $ 590,000 $ 70,500 $ 160,000 $ 139,000 $ 430,000 $ 590,000 Beginning Balance $ 36,200 $ 58,700 $ 74,000 $ 168,900 $ 624,000 $ 63,000 $ 144,000 $ 139,000 $ 480,000 $ 624,000 Sales (all on account) Cost of goods sold Gross margin Net operating income Interest expense Net income This Year $ 865,000 $ 501,700 $ 363,300 $ 206,250 $ 11,000 $ 136,675 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