Excerpts from Hulkster Company's December 31, 2021 and 2020, financial statements are presented below: 2021 2020 Accounts receivable $ 78,000 $ 55,000 Merchandise inventory 47,000 73,000 Net sales 305,900 300,000 Cost of goods sold
Excerpts from Hulkster Company's December 31, 2021 and 2020, financial statements are presented below: 2021 2020 Accounts receivable $ 78,000 $ 55,000 Merchandise inventory 47,000 73,000 Net sales 305,900 300,000 Cost of goods sold
Managerial Accounting: The Cornerstone of Business Decision-Making
7th Edition
ISBN:9781337115773
Author:Maryanne M. Mowen, Don R. Hansen, Dan L. Heitger
Publisher:Maryanne M. Mowen, Don R. Hansen, Dan L. Heitger
Chapter15: Financial Statement Analysis
Section: Chapter Questions
Problem 56P: The following selected information is taken from the financial statements of Arnn Company for its...
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9. Excerpts from Hulkster Company's December 31, 2021 and 2020, financial statements are presented below:
2021 | 2020 | ||||||
Accounts receivable | $ | 78,000 | $ | 55,000 | |||
Merchandise inventory | 47,000 | 73,000 | |||||
Net sales | 305,900 | 300,000 | |||||
Cost of goods sold | 152,000 | 127,000 | |||||
Total assets | 463,000 | 424,000 | |||||
Total shareholders' equity | 278,000 | 244,000 | |||||
Net income | 61,000 | 47,000 | |||||
Hulkster's 2021 average days in inventory is (rounded): (Round your intermediate calculations to 2 decimal places.)
Multiple Choice
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68 days.
-
134 days.
-
144 days.
-
113 days.
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