StarrKnight Corporation's Balance Sheet and Income Statement as Shown Below
Question 112
Question 112
Multiple Choice
StarrKnight Corporation's Balance Sheet and Income Statement as shown below: BALANCE SHEET (in thousands of dollars) ASSETS Current Assets Cash Receivables Inventories Total Fixed Assets Total Assets2008$21,1137,33625,135$53,58425,767$79,3512007$19,9303,27524,270$47,47519,720$67,195
LIABILITIES Current Liabilities Accounts Payable Notes Payable Other Total 2008$9,4934293,990$13,9122007$7,2734163,180$10,869
Long-term Liabilities Stockholder’s Equity Total Liability and Equity 7,79657,643$79,3516,08850,238$67,195
NET INCOME (in thousands of dollars)
Net Sales Cost of Goods Sold Other Operating ExpensesOperating Profit Other Income Interest TaxNet Profit Dividends Retained Earnings 2008$113,26075,58630,998$6,6767,0616583,924$9,155$460$8,6952007$96,69565,03926,208$5,4486,2805203,362$7,846$441$7,405
-Refer to the above tables.The average inventory for the StarrKnight Corporation in 2008 is __________.
A) $12,567.50 B) $12,883.50 C) $23,837.50 D) $24,702.50 E) $25,567.50
Correct Answer:
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