Use the Following Information for Questions

question 35

Multiple Choice

Use the following information for questions.

-The salary expense on the 2017 statement of comprehensive income was

• A)$118,400.
• B)$133,100.
• C)$131,300.
• D)$116,600.

---

Definitions:

Accounts Receivable Turnover

A financial ratio that measures the efficiency of a company in collecting its receivables or the credit it has extended to customers.

Inventory Turnover

A ratio indicating how many times a company's inventory is sold and replaced over a specific period.

Working Capital

The difference between a company's current assets and current liabilities, indicating the short-term financial health and operational efficiency of a business.

Current Ratio

A liquidity ratio that measures a company's ability to pay short-term and long-term obligations, calculated as current assets divided by current liabilities.