55. MC.14-88 Based on the following data for the current year, what is the inventory turnover? Sales on account during year Cost of goods sold during year Accounts receivable, beginning of year Accounts receivable, end of year Inventory, beginning of year Inventory, end of year $700,000 270,000 45,000 35,000 90,000 110,000 2.5 9.7 2.7 3.0 56. MC.14-123 A company reports the following: Net income Preferred dividends Shares of common stock outstanding Market price per share of common stock $160,000 $10,000 20,000 $35 The company's earnings per share on common stock is $7.50 $35.00 $8.50 $13.33