Condensed financial statements of Miller Company at the beginning and at the end of the current year are given below:
The company paid total dividends of $15,000 during the year,of which $5,000 were to preferred shareholders.The market price of a common share at the end of the year was $30.
Required:
On the basis of the information given above,fill in the blanks with the appropriate figures.
Example: The current ratio at the end of the current year would be computed by dividing $270,000 by $100,000.
a)The acid-test (quick)ratio at the end of the current year would be computed by dividing _______________ by ________________.
b)The inventory turnover for the year would be computed by dividing _______________ by ________________.
c)The debt-to-equity ratio at the end of the current year would be computed by dividing _______________ by ________________.
d)The earnings per common share would be computed by dividing _______________ by ________________.
e)The accounts receivable turnover for the year would be computed by dividing _______________ by ________________.
f)The times interest earned for the year would be computed by dividing _______________ by ________________.
g)The return on common shareholders' equity for the year would be computed by dividing _______________ by ________________.
h)The dividend yield would be computed by dividing _______________ by ________________.
Correct Answer:
Verified
b)$350,00...
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