Question
The following information pertains to Novak Corp. Assume that all balance sheet amounts represent both average and ending balance figures. Assume that all sales
The following information pertains to Novak Corp. Assume that all balance sheet amounts represent both average and ending balance figures. Assume that all sales were on credit. Assets Cash and short-term investments Accounts receivable (net) Inventory Property, plant and equipment $ 49400 37500 28000 216000 $330900 Total Assets Liabilities and Stockholders' Equity Current liabilities $ 54200 Long-term liabilities 85500 Stockholders' equity-common 191200 Total Liabilities and Stockholders' Equity $330900 Income Statement Sales revenue Cost of goods sold Gross margin Operating expenses Net income $210000 127500 82500 34300 $48200 Number of shares of common stock 5200 Market price of common stock $30 Dividends per share on common stock Cash provided by operations 8.0 $38000
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