Consider the following financial data from the past year for Midwest Outdoor Equipment Corporation. Gross Income $25,240,000
Total Sales 24,324,000
Total Credit Sales 18,785,000
Net Income 2,975,000
Cost of Goods Sold 12,600,000
Total Assets 10,550,000
Average Inventory 2,875,000
Average Receivables 3,445,000
a. Compute the receivable turnover ratio.
b. Compute the inventory turnover ratio.
c. Compute the asset turnover ratio.

The following information is available for jase company: market price per share of common stock $25.00 earnings per share on common stock $1.25 which of the following statements is correct? a. the price-earnings ratio is 20 and a share of common stock was selling for 20 times the amount of earnings per share at the end of the year. b. the market price per share and the earnings per share are not statistically related to each other. c. the price-earnings ratio is 5% and a share of common stock was selling for 5% more than the amount of earnings per share at the end of the year. d. the price-earnings ratio is 10 and a share of common stock was selling for 125 times the amount of earnings per share at the end of the year.

Which of the following is not an example of one of the four mail advantages of prices on a free market economy

Which of the following is one of the main causes of inflation? a. wages drop so workers have to spend a higher percentage of income on necessities. b. demand drops and forces producers to charge more to meet their costs. c. rising unemployment cuts into national income. d. consumers demand goods faster than they can be supplied.