Markus Companys common stock sold for $4.50 per share at the end of this year....
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Accounting
Markus Companys common stock sold for $4.50 per share at the end of this year. The company paid a common stock dividend of $0.63 per share this year. It also provided the following data excerpts from this years financial statements:
Ending Balance
Beginning Balance
Cash
$
40,000
$
40,200
Accounts receivable
$
84,000
$
63,700
Inventory
$
70,600
$
84,000
Current assets
$
194,600
$
187,900
Total assets
$
699,000
$
755,600
Current liabilities
$
78,000
$
76,500
Total liabilities
$
184,000
$
165,600
Common stock, $1 par value
$
152,000
$
152,000
Total stockholders equity
$
515,000
$
590,000
Total liabilities and stockholders equity
$
699,000
$
755,600
This Year
Sales (all on account)
$
980,000
Cost of goods sold
$
568,400
Gross margin
$
411,600
Net operating income
$
263,250
Interest expense
$
13,500
Net income
$
174,825
7. What is the amount of working capital and the current ratio at the end of this year? (Round "Current ratio" to 2 decimal places.)
12. What is the total asset turnover? (Round your answer to 2 decimal places.)
13. What is the times interest earned ratio? (Round your answer to 2 decimal place.)
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