Reference no: EM132603665

Question 1: Graber Company had $130,000 in sales on account last year. The beginning accounts receivable balance was $18,000 and the ending accounts receivable balance was $12,000. The company's average collection period was closest to:

Select one:

a. 33.69 days

b. 42.12 days

c. 84.23 days

d. 50.54 days

Question 2: Ira Company, a retailer, had cost of goods sold of $160,000 last year. The beginning inventory balance was $26,000 and the ending inventory balance was $24,000. The company's average sale period was closest to:

Select one:

a. 114.06 days

b. 54.75 days

c. 59.31 days

d. 57.03 days

Question 3: Crandall Company's net income last year was $60,000. The company paid preferred dividends of $10,000 and its average common stockholders' equity was $480,000. The company's return on common stockholders' equity for the year was closest to:

Select one:

a. 12.5%

b. 10.4%

c. 2.1%

d. 14.6%