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Cash Accounts receivable (net) Inventory Accounts payable Notes payable Common stock, $100 par Retained earnings Additional information: 1 2 3. 4. 5. December 31, 2022 $34,500 76,000 191,000 51,000 30,500 394,000 119,000 (b) Compute the following for Blossom Corporation. The inventory turnover is 3.70 times. The return on common stockholders' equity is 26%. The company had no addition The accounts receivable turnover is 7.60 times. The return on assets is 12.50%. Total assets at December 31, 2021, were $600,000. Cost of goods sold for 2022 December 31, 2021 $19,500 123,500 170,000 92,000 64,500 394,000 108,500 Net credit sales for 2022 667850 758100

Cash Accounts receivable (net) Inventory Accounts payable Notes payable Common stock, $100 par Retained earnings Additional information: 1 2 3. 4. 5. December 31, 2022 $34,500 76,000 191,000 51,000 30,500 394,000 119,000 (b) Compute the following for Blossom Corporation. The inventory turnover is 3.70 times. The return on common stockholders' equity is 26%. The company had no addition The accounts receivable turnover is 7.60 times. The return on assets is 12.50%. Total assets at December 31, 2021, were $600,000. Cost of goods sold for 2022 December 31, 2021 $19,500 123,500 170,000 92,000 64,500 394,000 108,500 Net credit sales for 2022 667850 758100

FINANCIAL ACCOUNTING
FINANCIAL ACCOUNTING
10th Edition
ISBN:9781259964947
Author:Libby
Publisher:Libby
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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am. 11.

Cash Accounts receivable (net) Inventory Accounts payable Notes payable Common stock, $100 par Retained earnings Additional information: 1 2 3 4. 5. (a) December 31, 2022 $34,500 76,000 191,000 51,000 30,500 394,000 119,000 Compute the following for Blossom Corporation. (b) The inventory turnover is 3.70 times. The return on common stockholders' equity is 26%. The company had no additional capital accc The accounts receivable turnover is 7.60 times. The return on assets is 12.50%. Total assets at December 31, 2021, were $600,000. Cost of goods sold for 2022 Net credit sales for 2022 December 31, 2021 $19,500 123,500 170,000 92,000 64,500 394,000 108,500 $ 667850 758100
Transcribed Image Text:Cash Accounts receivable (net) Inventory Accounts payable Notes payable Common stock, $100 par Retained earnings Additional information: 1 2 3 4. 5. (a) December 31, 2022 $34,500 76,000 191,000 51,000 30,500 394,000 119,000 Compute the following for Blossom Corporation. (b) The inventory turnover is 3.70 times. The return on common stockholders' equity is 26%. The company had no additional capital accc The accounts receivable turnover is 7.60 times. The return on assets is 12.50%. Total assets at December 31, 2021, were $600,000. Cost of goods sold for 2022 Net credit sales for 2022 December 31, 2021 $19,500 123,500 170,000 92,000 64,500 394,000 108,500 $ 667850 758100
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