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Stock splits are issued primarily to:

King Sporting Goods reports net income of $100,000, net sales of $500,000, and average assets of $1,000,000. The asset turnover is:

Which of the following income statement items is least likely to persist into future periods?

_____________ is an investing cash flow and _____________ is a financing cash flow, as reported in the statement of cash flows.

We can find most financing activities by examining changes in long-term liabilities and stockholders’ equity accounts.

Excerpts from Nationwide Company’s December 31, 2024 and 2023, financial statements are presented below: 20242023Accounts receivable$ 89,000$ 77,000Inventory94,00078,000Net sales450,000383,000Cost of goods sold256,000217,000Total assets810,000755,000Total stockholders’ equity505,000430,000Net income75,00053,000 What is the return on assets for 2024?Note: Round your answer to one decimal place.

Which of the following statements is (are) correct?

Excerpts from Andre Company’s December 31, 2024 and 2023, financial statements are presented below: 20242023Accounts receivable$ 40,000$ 36,000Inventory28,00035,000Net sales (all credit)190,000186,000Cost of goods sold114,000108,000Total assets425,000405,000Total stockholders’ equity240,000225,000Net income32,50028,000 What is the average collection period for 2024?Note: Use 365 days and round your final answer to the nearest day.

An Arterial Switch Operation is indicated in which of the following defects?

In preparing a statement of cash flows under the indirect method, a decrease in accounts receivable would be reported as a(n):