Question: help with E) and F) #4 The following data is given for BURNS CORPORATION December 31. 2021 2020 Cash $ 49,000 $ 50,000 Accounts receivable
#4 The following data is given for BURNS CORPORATION December 31. 2021 2020 Cash $ 49,000 $ 50,000 Accounts receivable (net) 68,000 60,000 Inventories 90,000 110,000 Plant assets (net) 400,000 325,000 Accounts payable 55,000 40,000 Wages payable 10,000 5,000 Bonds payable 70,000 70,000 10% Preferred stock, $40 par 100,000 100,000 Common stock, $10 par 120,000 90,000 Paid-in capital 80,000 65,000 Retained earnings 172,000 175,000 Net credit sales 800,000 Cost of goods sold 500,000 Net income 100,000 Instructions Compute the following ratios: (a) Acid-test ratio at 12/31/21 (b) Receivables turnover in 2021 (c) Inventory turnover in 2021 (d) Profit margin on sales in 2021 (e) Rate of return on common stock equity in 2021 (1) Book value per share of common stock at 12/31/21
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