Stardust Furniture Store sells "low end" furniture and uses the installment method for revenue recognition. Its year-end is December 31. It shows the following data for January: Sales of $8,190 with a 50% markup. Sales terms: No down payment in January, no interest and 6 easy monthly payments starting in February. Required 1: Assuming no other transaction happened, what revenue is recognized in January? \$ Required 2: Assuming no other transaction happened, what revenue is recognized in February? \$ Required 3: Assuming no other transaction happened, what cost of goods sold is recognized in March? \$ Required 4: Assuming no other transaction happened, what is the Gross Margin of April? \$ eacrest Corporation sells sailboats and has an inventory turnover ratio of 3.83 times per year based on its most recent audited annual hancial statements. Assume a 365 day year. uring the year Seacrest sold 3 boats at an average selling price of $88050. Seacrest applies a 20% mark up on cost and is enough pay its annual operating expenses of $44,000. equired 1: How much is the Average Inventory for the year? \$ equired 2: On average how many days does it take Seacrest to completely sell its inventory of boats? Determine the average days of utstanding inventory. equired 3: Seacrest's Gross profit percentage is (report it as multiplied by 100 to represent it as a percentage): equired 4: If total average assets are $300,000, What is the Return on Assets? (report it as multiplied by 100 to represent it as a ercentage): equired 5: Seacrest's Return on Sales is (report it as multiplied by 100 to represent it as a percentage): Excelsior Corporation has the following headings on its December 31, 2019 Balance Sheet: Total Current Assets $200,000 Total Assets $500,000 Total Current Liabilities $108,000 Total Non Current Liabilities $300,000 On January 2020 Excelsior pays off $46,800 in long term debt by transferring title to one of its idle factories to the creditor Required 1: Assume no other transaction in 2020. How much will working capital increase/decrease by when comparing December 2019 with January 2020? \$ Required 2: The current ratio of 2019 is: Required 3: Excelsior's financial leverage in 2019 is (calculate it as a debt to equity ratio): Required 4: Excelsior's financial leverage in 2019 is (calculate the Equity Ratio and not the Equity Ratio percentage): Required 5: If sales for 2019 amount to $570,000, the working capital turnover for 2019 is