75,500 103,000 36.500 215,000 458,000 261.500 934,500 Consider the following financial data for Shane's Computer...
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75,500 103,000 36.500 215,000 458,000 261.500 934,500 Consider the following financial data for Shane's Computer Stores: Statement of Financial Position as of December 31, 2012 Cash & equivalents $ 61,000 Accounts payable Accounts receivable 194,500 Short-term bank note Inventories 334.500 Accruals Total current assets 590,000 Total short-term liab Long-terin debt Net fixed assets 344.500 Common equity Total assets 934.500 Total liabilities & equity Income Statement for the Year Ended December 31, 2012 Net sales $ 829,000 Cost of goods sold 467.000 Gross profit $ 362,000 Operating expenses 204.000 Earnings before interest and taxes (EBIT) $ 158,000 Interest expense 73.000 Earnings before taxes (EBT) $ 85,000 Federal and state income taxes (35 percent) 29.750 Net eamings 55.250 Calculate Shane's inventory turnover. Oa: 5.91 O b.0.89 O c. 2.48 . d. 1.56 O e. 16.52
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