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.

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:

Assuming net income for the year is $240,000 and consider the following information, what is the net cash flows from operating activities? Increase in salaries payable$ 16,500Depreciation expense9,500Increase in prepaid rent26,000Loss on sale of asset1,200Increase in accounts payable31,500Increase in inventory89,000

Excerpts from Andre Company’s December 31, 2024 and 2023, financial statements are presented below: 20242023Accounts receivable$40,000$36,000Inventory28,00035,000Net sales190,000186,000Cost of goods sold114,000108,000Total assets425,000405,000Total stockholders’ equity240,000225,000Net income32,50028,000 What is the return on equity for 2024?Note: Round your answer to one decimal place.

A company issued 15,000 shares of $3 par value stock for $15 per share. What is true about the journal entry to record the issuance?

During the year, Next Tec Corporation had the following cash flows: receipt from customers, $10,000; receipt from the bank for long-term borrowing, $6,000; payment to suppliers, $5,000; payment of dividends, $1,000; payment to workers, $2,000; and payment for machinery, $8,000. What amount would be reported for net financing cash inflows (outflows) in the statement of cash flows?

If a company issues 1,000 shares of $1 par value common stock for $20 per share, what would be the effect on the balance sheet?

Recent financial statement data for Bethell Foods Incorporated is shown below: Current liabilities$ 180Income before interest and taxes$ 12510% Bonds, long-term360Interest expense36Total liabilities540Income before income tax expense89Stockholders’ equity Income tax expense27Common stock200Net income$ 62Retained earnings280 Total stockholders’ equity480 Total liabilities and equity$ 1,020 What is the debt to equity ratio?Note: Round your answer to two decimal places.

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.

The number of shares outstanding is equal to the number of shares issued by the company minus the number of the company’s own shares that it has purchased.