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Brock Company’s financial information is listed below. Assume that all balance sheet amounts represent both average and ending balance figures and that all sales were on credit. Assets Cash and short-term investments $37,046 Accounts receivable (net) 28,014 Inventory 33,142 Property, plant, and equipment 261,564 Total assets $359,766     Liabilities and Stockholders’ Equity Current liabilities $61,804 Long-term liabilities 97,286 Common stock, $10 par 63,340 Retained earnings 137,336 Total liabilities and stockholders’ equity $359,766     Income Statement Sales $96,072 Cost of goods sold 43,232 Gross margin $52,840 Operating expenses 29,134 Net income $23,706     Number of shares of common stock 6,334 Market price of common stock $27 What is the current ratio? Round your answer to two decimal places.

Another term for factory overhead is

Motorcycle Manufacturers, Inc., projected sales of 59,700 machines for the year. The estimated January 1 inventory is 6,050 units, and the desired December 31 inventory is 7,500 units. The budgeted production for the year is

When preparing the cash budget, all the following should be considered except

ShadyPalms Hotel has 100 rooms. During the month of February, it had 500 guests, each staying 5 nights. The occupancy rate for ShadyPalms Hotel for the month of February (not a leap year) was closest to

Richards Corporation had net income of $250,000 and paid dividends to common stockholders of $50,000. It had 50,000 shares of common stock outstanding during the entire year. Richards Corporation’s common stock is selling for $35 per share. The price-earnings ratio is

Brock Company’s financial information is listed below. Assume that all balance sheet amounts represent both average and ending balance figures and that all sales were on credit. Assets Cash and short-term investments $40,000 Accounts receivable (net) 30,000 Inventory 25,000 Property, plant, and equipment 215,000 Total assets $310,000     Liabilities and Stockholders’ Equity Current liabilities $60,000 Long-term liabilities 95,000 Common stock, $10 par 60,000 Retained earnings 95,000 Total liabilities and stockholders’ equity $310,000     Income Statement Sales $90,000 Cost of goods sold 45,000 Gross margin $45,000 Operating expenses 20,000 Net income $25,000     Number of shares of common stock 6,000 Market price of common stock $20 What is the current ratio? Round your answer to two decimal places.

Richards Corporation had net income of $278,114 and paid dividends to common stockholders of $42,700. It had 57,700 shares of common stock outstanding during the entire year. Richards Corporation’s common stock is selling for $63 per share. The price-earnings ratio is

Based on the following data for the current year, what is the number of days’ sales in inventory? Assume 365-day year. Sales on account during year $541,138 Cost of goods sold during year 159,608 Accounts receivable, beginning of year 43,792 Accounts receivable, end of year 47,825 Inventory, beginning of year 39,653 Inventory, end of year 42,124 Do not round interim calculations. Round your final answer up to the nearest whole day.

In a common-sized balance sheet, 100% is