How much is the annual interest expense

Reference no: EM131880844

Question: 1. Agnes Company reported the following data:

Quick assets	$ 50,000
Current assets	145,000
Total liabilities	295,000
Average net receivables	14,100
Beginning inventory	33,000
Long-term liabilities	195,000
Net credit sales	121,000
Cost of goods sold	79,000
Ending inventory	41,000

What was the inventory turnover ratio?

2. Cecilia Company reported net income of $1,400,000. The average total liabilities were $4,310,000 and average total stockholders' equity was $5,220,000. Interest expense was $102,000 and the tax rate was 40%. Cecilia's return on assets ratio is closest to:

3. Gammell Company issued $51,400 of 9% bonds with annual interest payments. The bonds mature in ten years. The bonds were issued at $48,700. Gammel Company uses the straight-line method of amortization. How much is the annual interest expense?

Reference no: EM131880844

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