Calculate Company Y's total asset turnover based on the following information for the current year: (Round your final answer to two decimal places.)
Net income $800,000
Assets at the beginning of the year $100,000
Assets at the end of the year $120,000
Net sales $900,000
A) 7.50
B) 7.27
C) 8.18
D) 9.00
C
Explanation: C) ($100,000 + $120,000 ) ÷ 2 = $110,000
$900,000 ÷ $110,000 = 8.18
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The Larkin Corporation is contemplating a two-for-one stock split of its common stock. Its $4 par value common stock will be reduced to $2 after the split. It has two million shares issued and outstanding out of a total of three million authorized. The distribution of the additional shares to the shareholders requires
A. Both authorization by the board of directors and approval by the shareholders. B. The recipients to recognize a taxable dividend. C. That surplus equal to the par value of the existing number of shares issued and outstanding be transferred to the stated capital account. D. The trustees of trust recipients of the additional shares to allocate them ratably between income and corpus.
If you decide to include a career objective in your résumé, present it a way that relates your qualifications to
A) as many jobs as possible. B) the employer's needs. C) your personal needs and desires. D) your relationship to the global community.