The following information is from the annual financial statements of Waseem Company. Compute its accounts receivable turnover for 2010 and 2011. Compare the two years’ results and give a possible explanation for any change (competitors average a turnover of 11).
| 2011 | 2010 | 2009 | |
| Net sales | $305,000 | $236,000 | $288,000 |
| Accounts receivable, net (year-end) | 22,900 | 20,700 | 17,400 |
Jackson Inc. reported a net income of $186,000 in 2012 and paid dividends of $26,000 on common stock. It also paid dividends on its 10,000 shares of 6%, $100 par value, noncumulative preferred stock. Common stockholders’ equity was $1,200,000 on January 1, 2012, and $1,600,000 on December 31, 2012. The company’s return on common stockholders’ equity for 2012 is:
(a) 10.0%
(b) 9.0%
(c) 7.1%
(d) 13.3%
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