Selected information for 2017 is:
| Cost of goods sold | $6,000,000 |
| 2016-ending inventory | $2,000,000 |
| 2017-ending inventory | $1,400,000 |
| Net sales | $7,200,000 |
| 2016-ending receivables | $990,000 |
| 2017-ending receivables | $930,000 |
| Net income | $20,000 |
Assuming a 360-day year, what was the inventory turnover ratio for 2017?
a. 102
b. None of these
c. 4.3
d. 7.5
e. 3.5
Bramble Corp. had a net income of $94,700 and paid dividends of $30,000 to common stockholders and $15500 to preferred stockholders in 2017. Bramble Corp. common stockholders’ equity at the beginning and end of 2017s was $440,000 and $550,000, respectively. Bramble Corp.’s return on common stockholders’ equity is:
a. 11%.
b. 15%.
c. 20%.
d. 16%.
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