Markus Company's common stock sold for $4.75 per share at the end of this year. The...
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Markus Company's common stock sold for $4.75 per share at the end of this year. The company paid a common stock dividend of $0.57 per share this year. It also provided the following data excerpts from this year's financial statements: Cash Accounts receivable. Inventory Current assets Total assets Current liabilities Total liabilities Common stock, $1 par value Total stockholders' equity Total liabilities and stockholders' equity Ending Balance Beginning Balance $ 44,000 $ 43,200 $ 92,000 $ 66,200 $ 73,300 $ 209,300 $ 750,000 $ 84,000 $ 210,000 $ 92,000 $201,400 $ 809,000 $ 87,000 $ 189,000 $158,000 $ 620,000 $ 809,000 $ 158,000 $ 540,000 $ 750,000 This Year $ 1,080,000 $ 626,400 Sales (all on account) Cost of goods sold Gross margin Net operating income Interest expense Net income $ 453,600 $ 276,500 $ 14,000 $ 183,750 8. What is the acid-test ratio at the end of this year? Note: Round your answer to 2 decimal places. Acid-test ratio 9. What are the accounts receivable turnover and the average collection period? Note: Use 365 days in a year. Round your intermediate and final answers to 2 decimal plac Accounts receivable turnover Average collection period days 10. What are the inventory turnover and the average sale period? Note: Use 365 days in a year. Round your intermediate and final answers to 2 decimal places. Inventory turnover Average sale period days 11. What is the company's operating cycle? Note: Use 365 days in a year. Round your intermediate and final answer to 2 decimal places. Operating cycle days 12. What is the total asset turnover? Note: Round your answer to 2 decimal places. Total asset turnover 13. What is the times interest earned ratio? Note: Round your answer to 2 decimal place. Times interest earned ratio 14. What is the debt-to-equity ratio at the end of this year? Note: Round your answer to 2 decimal places. Debt-to-equity ratio Markus Company's common stock sold for $4.75 per share at the end of this year. The company paid a common stock dividend of $0.57 per share this year. It also provided the following data excerpts from this year's financial statements: Cash Accounts receivable. Inventory Current assets Total assets Current liabilities Total liabilities Common stock, $1 par value Total stockholders' equity Total liabilities and stockholders' equity Ending Balance Beginning Balance $ 44,000 $ 43,200 $ 92,000 $ 66,200 $ 73,300 $ 209,300 $ 750,000 $ 84,000 $ 210,000 $ 92,000 $201,400 $ 809,000 $ 87,000 $ 189,000 $158,000 $ 620,000 $ 809,000 $ 158,000 $ 540,000 $ 750,000 This Year $ 1,080,000 $ 626,400 Sales (all on account) Cost of goods sold Gross margin Net operating income Interest expense Net income $ 453,600 $ 276,500 $ 14,000 $ 183,750 8. What is the acid-test ratio at the end of this year? Note: Round your answer to 2 decimal places. Acid-test ratio 9. What are the accounts receivable turnover and the average collection period? Note: Use 365 days in a year. Round your intermediate and final answers to 2 decimal plac Accounts receivable turnover Average collection period days 10. What are the inventory turnover and the average sale period? Note: Use 365 days in a year. Round your intermediate and final answers to 2 decimal places. Inventory turnover Average sale period days 11. What is the company's operating cycle? Note: Use 365 days in a year. Round your intermediate and final answer to 2 decimal places. Operating cycle days 12. What is the total asset turnover? Note: Round your answer to 2 decimal places. Total asset turnover 13. What is the times interest earned ratio? Note: Round your answer to 2 decimal place. Times interest earned ratio 14. What is the debt-to-equity ratio at the end of this year? Note: Round your answer to 2 decimal places. Debt-to-equity ratio
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