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The following balance sheet information is provided for Apex Company for Year 2: 3 Assets Cash Accounts receivable Inventory Prepaid expenses Plant and equipment, net
The following balance sheet information is provided for Apex Company for Year 2: 3 Assets Cash Accounts receivable Inventory Prepaid expenses Plant and equipment, net of depreciation Land $ 7,400 13,550 15,700 2,500 20,400 14,300 $73,850 Total assets Liabilities and stockholders' equity Accounts payable Salaries payable Bonds payable (due in ten years) Common stock, no par Retained earnings Total liabilities and stockholders' equity $ 3,330 7,330 16,500 12,000 34,690 $73,850 What is the company's working capital? Multiple Choice $23300 $6.900 $20.500 The following balance sheet information is provided for Gaynor Company: 5 Assets Cash Accounts receivable Inventory Year 2 $ 2,450 15,200 $26,500 Year 1 $ 1,700 13,200 $34,000 Assuming Year 2 cost of goods sold is $112,000, what is the company's inventory turnover? Multiple Choice 3.29 times 3.70 times 423 times None of these answers are correct
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