Required information The Foundational 15 [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 $2.75 per share at the end of this year. The company paid a common stock dividend of $0.55 per share this year. It also provided the following data excerpts from this year's financial statements: Ending Beginning Balance Balance Cash $ 35,000 $ 30.000 Accounts receivable $ 60.000 $ 50,000 Inventory $ 55,000 $ 60,000 Current assets $ 150,000 $ 140,000 Total assets $ 450,000 $ 460,000 Current liabilities 60.000 $ 40,000 Total liabilities $ 130.000 $ 120,000 Common stock, $1 par value $ 120,000 $ 120,000 Total stockholders' equity $ 320.000 $ 340,000 Total llabilities and stockholders' equity $ 450,000 $ 460,000 5 art 5 pf 15 Sales (all on account) Cost of goods sold Gross margin Net operating income Interest expense Net income This Year $ 700,000 $ 400,000 $ 300,000 $ 140,000 $ 8,000 $ 92,400 -6 nts 3 01:13:28 Foundational 14.5 eBook Print 5. What is the return on equity? (Round your answer to the nearest whole percentage 12).) ferences Return on equity 20% Total liabilities $ 130,000 $ 120,000 Common stock, $1 par value $ 120,000 $ 120,000 Total stockholders' equity $ 320,000 $ 340,000 Total liabilities and stockholders' equity $450,000 $ 460,000 8 of 15 Sales (all on account) Cost of goods sold Gross margin Net operating income Interest expense Net income This Year $ 700.000 $ 400,000 $ 300,000 $ 140,000 $ 8.000 $ 92.400 01:12:33 pped Boo Foundational 14.8 8. What is the acid-test ratio at the end of this year? (Round your answer to 2 decimal places.) Acid-est ratio O Sales (all on account) Cost of goods sold Gross margin Net operating income Interest expense Net income $ 700,000 $ 400,000 $ 300.000 $ 140,000 $ 8,000 $ 92.400 Q of 15 1:12:12 Foundational 14.10 ped 10. What is the inventory turnover and the average sale period? (Use 365 days in a year. Round your intermec answers to 2 decimal places.) Inventory turnover Average sale period days Common stock, $1 par value $ 120,000 $ 120,000 Total stockholders' equity $ 320,000 $340,000 Total liabilities and stockholders' equity $ 450,000 $ 460,000 of 15 Sales (all on account) Cost of goods sold Gross margin Net operating income Interest expense Net income This Year $ 700.000 $ 400,000 $ 300,000 $ 140,000 $ 8.000 $ 92.400 1:11:53 bed Foundational 14.11 11. What is the company's operating cycle? (Round your intermediate and final answer to 2 d Operating cycle days Bro Next 2 Common stock, $1 par value $ 120,000 $ 120,000 Total stockholders' equity $ 320,000 $ 340,000 Total liabilities and stockholders' equity $ 450,000 $ 460,000 3 of 15 Sales (all on account) Cost of goods sold Gross margin Net operating income Interest expense Net income This Year $ 700,000 $ 400,000 $ 300,000 $ 140,000 $ 8. $ 92.400 1:11:30 pped Foundational 14.12 12. What is the total asset turnover? (Round your answer to 2 decimal places.) Total asset turnover
