A common-size income statement expresses all income statement items
a. As a percentage of Current Assets.
b. As a percentage of Fixed Assets.
c. As a percentage of Total Assets.
d. As a percentage of Net Income.
e. As a percentage of Sales
E
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Information about a company's operating capability may be helpful to external users in
A) assessing the uncertainty of its future cash flows. B) evaluating the timing of cash flows in the near future. C) evaluating the efficiency with which the company uses its resources to generate revenue. D) assessing a return of investment as well as a return on investment.
Hamlin Company, a retailer, had cost of goods sold of $190,000 last year. The beginning inventory balance was $22,000 and the ending inventory balance was $28,000. The company's inventory turnover was closest to:
A) 6.79 times B) 7.6 times C) 3.8 times D) 8.64 times