questions displayed below] Markus Company's common stock sold for $4.00 per share at the end of this year. The company paid a common stock dividend of $0.80 per share this year. It also provided the following data excerpts from this year's financial statements: Cash Accounts receivable. Inventory Current assets Total assets Current liabilities Total liabilities. Common stock, $1 par value Total stockholders' equity Total liabilities and stockholders' equity Sales (all on account) Cost of goods sold. Gross margin Net operating income Interest expense. Net income This Year $ 900,000 $ 522,000 $ 378,000 $ 228,000 days $ 12,000 $ 151,200 Ending Balance $ 45,500 $ 82,000 $ 67,600 $ 195,100 $ 648,000 $ 72,500 $ 188,000 $ 145,000 $ 460,000 $ 648,000 Beginning Balance $ 39,200 $ 61,200 $ 82,000 $ 182,400 $ 689,200 $ 73,500 $ 169,200 $ 145,000 $ 520,000 $ 689,200 Foundational 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 pl Operating cycle
questions displayed below] Markus Company's common stock sold for $4.00 per share at the end of this year. The company paid a common stock dividend of $0.80 per share this year. It also provided the following data excerpts from this year's financial statements: Cash Accounts receivable. Inventory Current assets Total assets Current liabilities Total liabilities. Common stock, $1 par value Total stockholders' equity Total liabilities and stockholders' equity Sales (all on account) Cost of goods sold. Gross margin Net operating income Interest expense. Net income This Year $ 900,000 $ 522,000 $ 378,000 $ 228,000 days $ 12,000 $ 151,200 Ending Balance $ 45,500 $ 82,000 $ 67,600 $ 195,100 $ 648,000 $ 72,500 $ 188,000 $ 145,000 $ 460,000 $ 648,000 Beginning Balance $ 39,200 $ 61,200 $ 82,000 $ 182,400 $ 689,200 $ 73,500 $ 169,200 $ 145,000 $ 520,000 $ 689,200 Foundational 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 pl Operating cycle
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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Markus Company's common stock sold for $4.00 per share at the end of this year. The company paid a common stock
dividend of $0.80 per share this year. It also provided the following data excerpts from this year's financial statements:
Cash
Accounts receivable
Inventory
Current assets
Total assets.
Current liabilities
Total liabilities
Common stock, $1 par value
Total stockholders' equity
Total liabilities and stockholders' equity
Sales (all on account)
Cost of goods sold
Gross margin
Net operating income
Interest expense
Net income.
Foundational 14-11 (Algo)
Operating cycle
This Year
$ 900,000
$ 522,000
$ 378,000
$ 228,000
days
$ 12,000
$ 151,200
Ending Balance
$ 45,500
$ 82,000
$ 67,600
$ 195,100
$ 648,000
$ 72,500
$ 188,000
$ 145,000.
$ 460,000
$ 648,000
Beginning Balance
$:39,200
$ 61,200
$ 82,000
$ 182,400
$ 689,200
$ 73,500
$ 169,200
11. What is the company's operating cycle? (Use 365 days in a year. Round your intermediate and final answer to 2 decimal places.)
$ 145,000
$ 520,000
$ 689,200](/v2/_next/image?url=https%3A%2F%2Fcontent.bartleby.com%2Fqna-images%2Fquestion%2Fb304e046-b1d0-405c-819e-5b64d409d094%2Fcf53caa4-e90a-43d9-a6a9-434b4f8ff6f6%2Fthy4zk8_processed.jpeg&w=3840&q=75)
Transcribed Image Text:The following information applies to the questions displayed below]
Markus Company's common stock sold for $4.00 per share at the end of this year. The company paid a common stock
dividend of $0.80 per share this year. It also provided the following data excerpts from this year's financial statements:
Cash
Accounts receivable
Inventory
Current assets
Total assets.
Current liabilities
Total liabilities
Common stock, $1 par value
Total stockholders' equity
Total liabilities and stockholders' equity
Sales (all on account)
Cost of goods sold
Gross margin
Net operating income
Interest expense
Net income.
Foundational 14-11 (Algo)
Operating cycle
This Year
$ 900,000
$ 522,000
$ 378,000
$ 228,000
days
$ 12,000
$ 151,200
Ending Balance
$ 45,500
$ 82,000
$ 67,600
$ 195,100
$ 648,000
$ 72,500
$ 188,000
$ 145,000.
$ 460,000
$ 648,000
Beginning Balance
$:39,200
$ 61,200
$ 82,000
$ 182,400
$ 689,200
$ 73,500
$ 169,200
11. What is the company's operating cycle? (Use 365 days in a year. Round your intermediate and final answer to 2 decimal places.)
$ 145,000
$ 520,000
$ 689,200
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