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The following information is available about the company: a. All sales during the year were on account. b. There was no change in the number
The following information is available about the company: a. All sales during the year were on account. b. There was no change in the number of shares of common stock outstanding during the year c. The interest expense on the income statement relates to the bonds payabl le; the amount of bonds outstanding did not change during the year d. Selected balances at the beginning of the current year were Accounts receivable Inventory Total assets $ 250,000 $ 360,000 $1,575,000 e. Selected financial ratios computed from the statements below for the current year are Earnings per share Debt-to-equity ratio Accountsreceivable turnover Current ratio Return on total assets Times interest earned ratio Acid-test ratio Inventory turnover $ 6.48 0.800 20.0 2.30 18% 9.0 1.10 9.0
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