Solution-Compute return on common stockholders equity

Compute return on common stockholders equity

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Reference no: EM131822221

Exercise- Flite Corporation has issued common stock only. The company has been successful and has a gross profit rate of 20%. The information shown below was taken from the company's financial statements.

Beginning inventory	$ 482,000
Purchases	4,036,000
Ending inventory	?
Average accounts receivable	800,000
Average common stockholders' equity	3,500,000
Sales (all on credit)	5,000,000
Net income	385,000

Accounts receivable turnover and the average collection period. (Round answers to 2 decimal places, e.g. 52.75.)

Inventory turnover and the days in inventory. (Round answers to 1 decimal place, e.g. 52.7.)

Return on common stockholders' equity.

Reference no: EM131822221

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Compute return on common stockholders equity

Reference no: EM131822221

Reference no: EM131822221

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