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Kestner Corporation has provided the following financial data: Kestner Corporation has provided the following financial data: Required: a. What is the company's accounts receivable turnover for Year 2? b. What is the company's average collection period (age of receivables) for Year 2? c. What is the company's inventory turnover for Year 2? d. What is the company's average sale period (turnover in days) for Year 2? e. What is the company's operating cycle for Year 2? f. What is the company's total asset turnover for Year 2? Required: a. What is the company's accounts receivable turnover for Year 2? b. What is the company's average collection period (age of receivables) for Year 2? c. What is the company's inventory turnover for Year 2? d. What is the company's average sale period (turnover in days) for Year 2? e. What is the company's operating cycle for Year 2? f. What is the company's total asset turnover for Year 2?

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a. Accounts receivable turnover = Sales ...

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Deacon Corporation has provided the following financial data from its balance sheet and income statement: Deacon Corporation has provided the following financial data from its balance sheet and income statement: The company's debt-to-equity ratio at the end of Year 2 is closest to: A) 0.29 B) 0.38 C) 0.23 D) 0.64 The company's debt-to-equity ratio at the end of Year 2 is closest to:


A) 0.29
B) 0.38
C) 0.23
D) 0.64

E) A) and B)
F) A) and C)

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Burdick Corporation has provided the following financial data from its balance sheet: Burdick Corporation has provided the following financial data from its balance sheet: Sales (all on account) in Year 2 amounted to $1,410,000 and the cost of goods sold was $860,000. The company's operating cycle for Year 2 is closest to: A) 10.4 days B) 79.5 days C) 141.3 days D) 72.2 days Sales (all on account) in Year 2 amounted to $1,410,000 and the cost of goods sold was $860,000. The company's operating cycle for Year 2 is closest to:


A) 10.4 days
B) 79.5 days
C) 141.3 days
D) 72.2 days

E) All of the above
F) None of the above

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Data from Dunshee Corporation's most recent balance sheet appear below: Data from Dunshee Corporation's most recent balance sheet appear below: Sales on account in Year 2 amounted to $1,170 and the cost of goods sold was $730. The average collection period for Year 2 is closest to: A) 1.1 days B) 0.9 days C) 84.3 days D) 87.3 days Sales on account in Year 2 amounted to $1,170 and the cost of goods sold was $730. The average collection period for Year 2 is closest to:


A) 1.1 days
B) 0.9 days
C) 84.3 days
D) 87.3 days

E) None of the above
F) C) and D)

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Excerpts from Sydner Corporation's most recent balance sheet appear below: Excerpts from Sydner Corporation's most recent balance sheet appear below: Sales on account in Year 2 amounted to $1,390 and the cost of goods sold was $900. The acid-test ratio at the end of Year 2 is closest to: A) 1.67 B) 1.00 C) 0.97 D) 1.25 Sales on account in Year 2 amounted to $1,390 and the cost of goods sold was $900. The acid-test ratio at the end of Year 2 is closest to:


A) 1.67
B) 1.00
C) 0.97
D) 1.25

E) A) and D)
F) None of the above

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The times interest earned ratio of Whitney Corporation is 3.0. The interest expense for the year is $21,000, and the corporation's tax rate is 40%. The corporation's after-tax net income must be:


A) $63,000
B) $25,200
C) $30,000
D) $42,000

E) A) and D)
F) A) and C)

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Last year Truro Corporation purchased $800,000 of inventory. The cost of goods sold was $750,000 and the ending inventory was $125,000. The inventory turnover for the year was:


A) 6.0
B) 7.5
C) 6.4
D) 8.0

E) A) and D)
F) C) and D)

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Degollado Corporation's most recent income statement appears below: Degollado Corporation's most recent income statement appears below: The beginning balance of total assets was $200,000 and the ending balance was $220,000. Required: Compute the return on total assets. Show your work! The beginning balance of total assets was $200,000 and the ending balance was $220,000. Required: Compute the return on total assets. Show your work!

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Average total assets = ($200,000 + $220,...

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Doonan Corporation has provided the following financial data from its balance sheet and income statement: Doonan Corporation has provided the following financial data from its balance sheet and income statement: The market price of common stock at the end of Year 2 was $4.79 per share. The company's return on equity for Year 2 is closest to: A) 5.60% B) 4.09% C) 2.66% D) 68.28% The market price of common stock at the end of Year 2 was $4.79 per share. The company's return on equity for Year 2 is closest to:


A) 5.60%
B) 4.09%
C) 2.66%
D) 68.28%

E) A) and D)
F) All of the above

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Earnings per share is computed by multiplying net income by the average number of common shares outstanding.

A) True
B) False

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Deflorio Corporation's inventory at the end of Year 2 was $156,000 and its inventory at the end of Year 1 was $140,000. The company's total assets at the end of Year 2 were $1,416,000 and its total assets at the end of Year 1 were $1,390,000. Sales amounted to $1,320,000 in Year 2. The company's total asset turnover for Year 2 is closest to:


A) 0.94
B) 1.06
C) 5.38
D) 0.19

E) A) and B)
F) C) and D)

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Ribaudo Corporation has provided the following financial data from its balance sheet and income statement: Ribaudo Corporation has provided the following financial data from its balance sheet and income statement: The company's inventory turnover for Year 2 is closest to: A) 3.89 B) 1.04 C) 3.97 D) 4.05 The company's inventory turnover for Year 2 is closest to:


A) 3.89
B) 1.04
C) 3.97
D) 4.05

E) All of the above
F) B) and C)

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Fayer Corporation has provided the following financial data: Fayer Corporation has provided the following financial data: Dividends on common stock during Year 2 totaled $4,500. The market price of common stock at the end of Year 2 was $10.88 per share. The company's debt-to-equity ratio at the end of Year 2 is closest to: A) 0.22 B) 0.27 C) 0.45 D) 0.19 Fayer Corporation has provided the following financial data: Dividends on common stock during Year 2 totaled $4,500. The market price of common stock at the end of Year 2 was $10.88 per share. The company's debt-to-equity ratio at the end of Year 2 is closest to: A) 0.22 B) 0.27 C) 0.45 D) 0.19 Dividends on common stock during Year 2 totaled $4,500. The market price of common stock at the end of Year 2 was $10.88 per share. The company's debt-to-equity ratio at the end of Year 2 is closest to:


A) 0.22
B) 0.27
C) 0.45
D) 0.19

E) B) and C)
F) A) and D)

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Dilisio Corporation has provided the following data: Dilisio Corporation has provided the following data: Required: Compute the inventory turnover for this year: Required: Compute the inventory turnover for this year:

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Inventory turnover = Cost of g...

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Perrett Corporation has provided the following financial data: Perrett Corporation has provided the following financial data: Required: a. What is the company's net profit margin percentage for Year 2? b. What is the company's gross margin percentage for Year 2? c. What is the company's return on total assets for Year 2? d. What is the company's return on equity for Year 2? Required: a. What is the company's net profit margin percentage for Year 2? b. What is the company's gross margin percentage for Year 2? c. What is the company's return on total assets for Year 2? d. What is the company's return on equity for Year 2?

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a. Net profit margin percentage = Net in...

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Laverde Corporation has provided the following data:  Year 2 Year 1  Inventory $185,000$200,000 Total  assets $1,489,000$1,470,000 Sales $1,220,000\begin{array} { | l | r | r | } \hline & \text { Year } \mathbf { 2 } & \text { Year 1 } \\\hline \text { Inventory } & \$ 185,000 & \$ 200,000 \\\hline \begin{array} { l } \text { Total } \\\text { assets }\end{array} & \$ 1,489,000 & \$ 1,470,000 \\\hline \text { Sales } & \$ 1,220,000 & \\\hline\end{array} The company's total asset turnover for Year 2 is closest to:


A) 1.22
B) 7.60
C) 0.13
D) 0.82

E) A) and D)
F) None of the above

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Mayfield Corporation has provided the following financial data: Mayfield Corporation has provided the following financial data: The company's current ratio is closest to: A) 0.26 B) 2.65 C) 0.50 D) 0.53 The company's current ratio is closest to:


A) 0.26
B) 2.65
C) 0.50
D) 0.53

E) C) and D)
F) A) and C)

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Ribaudo Corporation has provided the following financial data from its balance sheet and income statement: Ribaudo Corporation has provided the following financial data from its balance sheet and income statement: The company's average sale period (turnover in days) for Year 2 is closest to: A) 91.9 days B) 48.9 days C) 90.1 days D) 198.1 days The company's average sale period (turnover in days) for Year 2 is closest to:


A) 91.9 days
B) 48.9 days
C) 90.1 days
D) 198.1 days

E) A) and D)
F) B) and C)

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Pascarelli Corporation's inventory at the end of Year 2 was $122,000 and its inventory at the end of Year 1 was $150,000. Cost of goods sold amounted to $870,000 in Year 2. The company's average sale period (turnover in days) for Year 2 is closest to:


A) 230.1 days
B) 51.2 days
C) 57.0 days
D) 32.3 days

E) A) and B)
F) A) and C)

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Neef Corporation has provided the following financial data from its balance sheet and income statement: Neef Corporation has provided the following financial data from its balance sheet and income statement: The company's return on equity for Year 2 is closest to: A) 67.25% B) 2.27% C) 1.47% D) 4.19% Neef Corporation has provided the following financial data from its balance sheet and income statement: The company's return on equity for Year 2 is closest to: A) 67.25% B) 2.27% C) 1.47% D) 4.19% The company's return on equity for Year 2 is closest to:


A) 67.25%
B) 2.27%
C) 1.47%
D) 4.19%

E) None of the above
F) B) and D)

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