of 5 Required information The following information applies to the questions displayed below.] Markus Company's...
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of 5 Required information The following information applies to the questions displayed below.] Markus Company's common stock sold for $2.75 per share at the end of this year. The company paid a common stock dividend of $0.55 per share this year. It also provided the following data excerpts from this year's financial statements: Cash Accounts receivable Inventory Current assets Total assets Current liabilities Total liabilities Common stock, $1 par value Total stockholders' equity Total liabilities and stockholders' equity Ending Beginning Balance Balance $ 35,000 $ 30,000 $ 60,000 $ 50,000 $ 55,000 $ 60,000 $ 150,000 $ 140,000 $ 450,000 $ 460,000 $ 60,000 $ 40,000 $ 130,000 $ 120,000 $ 120,000 $ 120,000 $ 320,000 $ 340,000 $ 450,000 $ 460,000 es Sales (all on account) Cost of goods sold Gross margin Net operating income Interest expense Net income This Year $ 700,000 $ 400,000 $ 300,000 $ 140,000 $ 8,000 $ 92,400 9. What is the accounts receivable turnover and the average collection period? (Use 365 days in a year. Round your intermediate and final answers to 2 decimal places.) 13.48 Accounts receivable turnover Average collection period 27.00 days
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