Following are preacquisition financial balances for Padre Company and Sol Company as of December 31. Also included are fair values for Sol Company accounts. Padre Company Sol Company Book Book Values Fair Values Values 12/31 12/31 12/31 Cash Receivables 143,750 61,400 $ 61,400 288,750 398,000 398,000 Inventory 625,000 250,000 301,700 Land 655,000 203,000 182,700 Building and equipment (net) Franchise agreements Accounts payable Accrued expenses 730,000 364,000 277,000 219,000 (390,000) (153,000) (94,000) 431,600 251,400 (153,000) (36,000) (1,057,500) (682,500) (36,000) (682,500) Common stock-$20 par value (660,000) (210,000) (70,000) (90,000) (405,000) (294,000) (968,000) (385,900) 925,000 356,000 Longterm liabilities Common stock-$5 par value Additional paid-in capital Retained earnings, 1/1 Revenues Expenses Note: Parentheses indicate a credit balance. On December 31, Padre acquires Sol's outstanding stock by paying $242,500 in cash and issuing 15,200 shares of its own common stock with a fair value of $40 per share. Padre paid legal and accounting fees of $24,400 as well as $8,600 in stock issuance costs. Determine the value that would be shown in Padre's consolidated financial statements for each of the accounts listed. (Input all amounts as positive values.) Accounts Inventory Land Buildings and equipment Franchise agreements Goodwill Revenues Additional paid-in capital Expenses Retained earnings, 1/1 Retained earnings, 12/31 Amounts

Solar Electric Inc. Balance Sheet 32 Marks ACB As at December 31, 2023 Account Title Debit Credit Assets Current Assets Cash 100,649 Accounts Receivable 35,860 Interest Rceivable 9,113 Prepaid Insurance 7,370 Short-Term Investment- Citi Inc 237,000 Short-Term Investment- Bonds 135,000 Inventory 90,640 Valuation Allowance for Fair Value Adjustment 50,700 Total Current Assets 666,332 Non-current Assets Investment in HSBC Inc. Common Shares 503,840 Long-Term Investment- Bond 145,000 Property, Plant & Equipment 280,000 Accumulated Depreciation 86,000 Total Non-Current Assets 842,840 Total Assets 1,509,172 Liabilities Current Liabilities Accounts Payable 212,400 Interest Payable 31,167 Unearned Revenue 21,000 Total Current Liabilities 264,567 Long-Term Liabilities Bonds Payable 340,000 Discount on Bonds Payable 15,741 Bank Loan 225,000 Total-Long Term Liabilities 549,259 Total Liabilities 813,826 Shareholders Equity Common Shares 362,000 Preferred Shares 80,000 Retained Earnings 348,385…

Privett Company Line Item Description Amount Accounts payable $27,815 Accounts receivable 70,978 Accrued liabilities 6,525 Cash 22,970 Intangible assets 43,640 Inventory 74,446 Long-term investments 100,209 Long-term liabilities 78,528 Marketable securities 34,768 Notes payable (short-term) 25,264 Prepaid expenses 2,065 Property, plant, and equipment 646,687 Based on the data for Privett Company, what is the amount of working capital? a. $205,227 b. $995,763 c. $128,716 d. $145,623

Required: Compute the asset turnover ratio for 2021. (Re Asset turnover ratio