Table 3.1 Information (2010 values)
1. Sales totaled $110,000
2. The gross profit margin was 25 percent.
3. Inventory turnover was 3.0.
4. There are 360 days in the year.
5. The average collection period was 65 days.
6. The current ratio was 2.40.
7. The total asset turnover was 1.13.
8. The debt ratio was 53.8 percent.
-Total assets for CEE in 2010 were ________. (See Table 3.1)
A) $ 45,895
B) $124,300
C) $ 58,603
D) $ 97,345

Question

Table 3.1  Information (2010 values)
1. Sales totaled $110,000
2. The gross profit margin was 25 percent.
3. Inventory turnover was 3.0.
4. There are 360 days in the year.
5. The average collection period was 65 days.
6. The current ratio was 2.40.
7. The total asset turnover was 1.13.
8. The debt ratio was 53.8 percent.
-Total assets for CEE in 2010 were ________. (See Table 3.1)
A) $ 45,895 
B) $124,300 
C) $ 58,603 
D) $ 97,345

Quizplus · Accepted Answer

The Answer of Table 3.1  Information (2010 values)
1. Sales totaled $110,000
2. The gross profit margin was 25 percent.
3. Inventory turnover was 3.0.
4. There are 360 days in the year.
5. The average collection period was 65 days.
6. The current ratio was 2.40.
7. The total asset turnover was 1.13.
8. The debt ratio was 53.8 percent.
-Total assets for CEE in 2010 were ________. (See Table 3.1)
A) $ 45,895 
B) $124,300 
C) $ 58,603 
D) $ 97,345

Table 3.1 Information (2010 Values)