The account balances for Green Corp. are listed below.All balances are as of December 31, 2015, except
Question:
The account balances for Green Corp. are listed below.All balances are as of December 31, 2015, except where noted:
Account TitleBalanceAccount TitleBalanceAccounts Payable$8,990Inventory, 1/1/5$2,040Accounts Receivable, 1/1/154,455Supplies7,500Accumulated Deprecation21,500Salaries Expense11,250Building65,000Net Sales54,005Cash10,300
Rent Expense7,850Common Stock45,000Retained Earnings, 1/1/1523,480Delivery Truck9,700Equipment15,700Depreciation Expense4,210Prepaid Expenses2,600Dividends2,100Cost of Goods Sold16,350Marketable Equity Securities3,400Notes Payable (due 2017)5,400Accounts Receivable, 12/31/155,250Inventory, 12/31/153,660
29 Determine theGross ProfitRatio:
A.30.3%
B.69.7%
C.26.6%
D.56.5%
E.73.5%
30. Determine theAccounts Receivable Turnover:
A.11.13
B.12.12
C.10.29
D.1.18
E.7.76
31. Determine theInventory Turnover:
A.4.47
B.1.79
C.5.74
D.8.01
E.18.95
32. Determine theDebt to Equity Ratioas of December 31, 2015:
A.0.1482
B.0.1114
C.0.2101
D.0.1783
E.0.1694