The Abel company has sales of $366,000 and cost of sales of $233,000. Its average annual inventory balance is $24,332. What is your inventory turnover in terms of number of turns?

The Baker Company has sales of $375,000 and cost of sales of $302,000. Its average annual inventory balance is $26,702. What is your inventory turnover in terms of number of turns?

The Abel company has total sales of $375,000, of which $125,000 represents cash sales. Your average annual accounts receivable balance is $42,000. 

What is the turnover of your accounts receivable in terms of number of drafts?

The Baker Company has total sales of $360,000, of which $60,000 represents cash sales. Your average annual accounts receivable balance is $30,000. 

What is the turnover of your accounts receivable in terms of number of drafts?

A friend inherits an annuity policy that provides $25,000 per year for the next 3 years. In a 3% interest rate environment, what is the present value of the estate?

		3%
Period	VF	FV Annuity	photovoltaic	PV Annuity
1	1.0300	1.0000	.9709	0.9709
2	1.0609	2.0300	.9426	1.9135
3	1.0927	3.0909	.9151	2.8286
4	1.1255	4.1836	.8885	3.7171
5	1.1593	5.3091	.8626	4.5797

A business has total current assets of $750,000 and long-term assets of $950,000. Total current liabilities equal $350,000 and total long-term liabilities equal $300,000.

The company has 200,000 $2 par shares of common stock outstanding. Common shares have a market value of $20 per share. What is the market capitalization of the company?