Reference no: EM132881375

Question - A firm had retained earnings of $130,000 in 20X1 and $158,600 in 20X2. The increase in retained earnings from 20X1 to 20X2 is:

Modern Products, Incorporated had accounts receivable of $360,000 in 20X1, and $432,000 in 20X2. Net credit sales for 20X2 were $4,752,000, and gross profit was $1,365,000. The accounts receivable turnover for 20X2 was:

A company's January 1 balance in Merchandise Inventory is $41,000. The December 31 balance is $36,200. Cost of goods sold is $222,000. The company's inventory turnover is:

A company has total assets of $156,000, current assets of $98,000, total liabilities of $59,000, and current liabilities of $43,000. What is the current ratio?

If total merchandise available for sale is 76 percent of net sales and cost of goods sold is 66 percent of net sales, gross profit on sales is:

If long-term liabilities are $79,500 and total assets are $534,000, what percentage of total assets are long-term liabilities?