Markus Company's common stock sold for $6.50 per share at the end of this year. The company paid a common stockdividend of $0.91 per share this year. It also provided the following data excerpts from this year's financialstatements:CashAccounts receivableInventoryCurrent assetsTotal assetsCurrent liabilitiesTotal liabilitiesConnon stock,, $1 par valueTotal stockholders' equityTotal liabilities and stockholders' equityEnding Balance$ 57,500$ 108,000$ 83,500$ 249,000$ 975,000$ 97, 500$ 240,000$ 185,000$ 735,000$ 975,000Beginning Balance$ 50, 000$ 75,000$ 108,000$ 233, 000$ 1,886,000$ 109, 500$ 216,000$ 185,000$ 870, 000$ 1,086,000Sales (all on account)Cost of goods soldGross marginNet operating inconeInterest expenseNet incomeThis Year$ 1,275,e00$ 739,500$ 535, 500$ 419, 250$ 19,500$ 279,825Foundational 14-11 (Algo)11, What is the company's operating cycle? (Use 365 days in a year. Round your intermediate and final answer to 2 decimal places.)

Operating cycle is calculated as sum of days sales in outstanding and days sales of inventory.

Answered: dividend of $0.91 per share this year.…

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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