Compute total assets for Catenas Marketing Company based on the adjusted trial balance in M4-8. Then compute

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Compute total assets for Catena’s Marketing Company based on the adjusted trial balance in M4-8. Then compute the company’s total asset turnover (rounded to two decimal places) for the current year, assuming total assets at the end of the prior year were $16,050.


Data from in  M4-8

Catena’s Marketing Company has the following adjusted trial balance at the end of the current year. Cash dividends of $600 were declared at the end of the year, and 500 additional shares of common stock ($0.10 par value per share) were issued at the end of the year for $3,000 in cash (for a total at the end of the year of 800 shares). These effects are included below:


Prepare a multistep income statement in good form for the current year. Include the operating income subtotal and earnings per share (rounded to two decimal places).

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Financial Accounting

ISBN: 9781264229734

11th Edition

Authors: Robert Libby, Patricia Libby, Frank Hodge

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