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Excerpts from Nationwide Company’s December 31, 2024 and 2023, financial statements are presented below: 20242023Accounts receivable$ 81,000$ 82,000Inventory87,00077,000Net sales (all credit)490,000377,000Cost of goods sold265,000221,000Total assets850,000760,000Total stockholders’ equity510,000430,000Net income79,00054,000 What is the inventory turnover ratio for 2024?Note: Round your answer to one decimal place.

Bad Brad’s BBQ had cash flows for the year as follows ($ in millions): Cash received from: Customers$ 2,800Interest on investments280Sale of land100Sale of common stock530Issuance of debt securities1,900Cash paid for: Interest on debt$ 330Income taxes100Debt principal reduction1,700Purchase of equipment3,600Purchase of inventory850Dividends on common stock230Operating expenses800 Bad Brad’s would report net cash inflows (outflows) from financing activities in the amount of:

Nerf Mania reports net income of $500,000, net sales of $4,000,000, and average assets of $2,000,000. The profit margin is:

Which of the following is a negative sign that a company is not selling its inventory quickly?

Earnings per share (EPS) measures the net income earned per share of common stock outstanding.

Which of the following VSDs have the highest rate of spontaneous closure?

Using the indirect method, we begin with net income and then list adjustments to net income in order to arrive at operating cash flows.

All publicly held corporations in the United States are regulated by the Securities and Exchange Commission.

The balance sheet of Logan Company reports total assets of $750,000 and $800,000 at the beginning and end of the year, respectively. Sales revenues are $1.5 million ($1.2 million in the previous year), net income is $150,000, and net cash flows from operating activities are $175,000. What is Logan’s cash return on assets?

To perform a vertical analysis of a balance sheet, you would divide each line item on the statement by: