Archer Manufacturing began the year with total assets of $350,000 and total liabilities of $140,000. During the year, the company recorded $280,000 in revenues, $165,000 in expenses, and paid dividends of $30,000. What was the stockholders' equity at the end of the year? A. $240,000 B. $295,000 C. $325,000 D. $210,000 E. $185,000

Archer Manufacturing began the year with total assets of $350,000 and total liabilities of $140,000. During the year, the company recorded $280,000 in revenues, $165,000 in expenses, and paid dividends of $30,000. What was the stockholders' equity at the end of the year? A. $240,000 B. $295,000 C. $325,000 D. $210,000 E. $185,000

Intermediate Financial Management (MindTap Course List)

13th Edition

ISBN:9781337395083

Author:Eugene F. Brigham, Phillip R. Daves

Publisher:Eugene F. Brigham, Phillip R. Daves

Chapter7: Analysis Of Financial Statements

Section: Chapter Questions

Problem 12P: The Kretovich Company had a quick ratio of 1.4, a current ratio of 3.0, a days’ sales outstanding of...

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The Kretovich Company had a quick ratio of 1.4, a current ratio of 3.0, a days’ sales outstanding of 36.5 days (based on a 365-day year), total current assets of $810,000, and cash and marketable securities of $120,000. What were Kretovich’s annual sales?
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