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The following data is given: December 31, 2018 2017 $65,500 Cash $48,000 Accounts receivable (net) 90,000 58,500 Inventories 90,000 111,000 Plant assets (net) 380,500 320,000
The following data is given: December 31, 2018 2017 $65,500 Cash $48,000 Accounts receivable (net) 90,000 58,500 Inventories 90,000 111,000 Plant assets (net) 380,500 320,000 Accounts payable 54,500 40,500 Salaries and wages payable 11,500 4,500 Bonds payable 72,500 71,000 8% Preferred stock, $40 par 100,000 100,000 Common stock, $10 par 120,000 90,000 Paid-in capital in excess of par 75,000 65,000 166,500 Retained earnings 192,500 Net credit sales 915,000 Cost of goods sold 725,000 Net income 81,000 Compute the following ratios: (Round answers to 2 decimal places e.g. 15.25.) Acid-test ratio at 12/31/18 (a) : 1 (b) Accounts receivable turnover in 2018 times (c) Inventory turnover in 2018 times Profit margin on sales in 2018 (d) (e) Return on common stock holders' equity in 2018 (f) Book value per share of common stock at 12/31/18 26
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