Use the following selected financial information for Wilcox Corporation to answer questions . Wilcox Corporation
Income Statement
For the Year Ended December 31,2015
Net sales Cost of goods sold Gross profit Operating expenses Operating profit Interest expense Earnings before taxes Income tax expense Net profit $2,8701,985$885620$26540$22580$145 Wilcox Corporation
Balance Sheet
December 31, 2015
Assets Current assets Cash Short-term investments Accounts receivable Inventory Total current assets Long-term assets Net PPE Goodwill Total assets $251570150260390210$860 Liabilities and stockholders’ equity Current liabilities Accounts payable Accrued liabilities Total current liabilities Long-term debt Total liabilities Stockholders’ equity Common stock and PIC Retained earnings Total stockholders’ equity Total liabilities and equity $854513024037080410490$860 WilcoxCorporation
Statement of Cash Flow Information
For the Year Ended December 31, 2015
Cash from operating activities Investing activities: Capital expenditures Acquisitions Financing activities: Proceeds from long-term borrowing Payments on long-term borrowing Payments of cash dividends Cash paid for interest Cash paid for income taxes $150$60$10$50$25$20$10$75
-Wilcox's days payable outstanding is:
Standard Markup Pricing
A pricing method that involves adding a fixed percentage to the cost of goods to determine their selling price.
Bait and Switch
A deceptive marketing practice wherein a company advertises a product at a low price to attract customers, only to persuade them to purchase a more expensive item when they arrive.
Deceptive Pricing
A misleading marketing practice where prices are presented in a way that falsely suggests a bargain, hiding the true costs involved.
Yield Management Pricing
A variable pricing strategy, based on understanding, anticipating, and influencing consumer behavior, to maximize revenue from a fixed, perishable resource.