question 107
Multiple Choice
Comparative financial statements for Bent Stew Enterprises are shown below: Assets Current assets: Cash Accounts receivable Inventory Prepaid expenses Total current assets Property, plant, and equipment, net Intangible assets, net Total assets Liabilities and Stockholders’ Equity Current liabilities: Accounts payable Other current liabilities Total current liabilities Long-term debt Total liabilities Stockholders’ equity: Common stock Additional paid-in capital Retained earnings Total stockholders’ equity Total liabilities and stockholders’ equity Sales Cost of goods sold Gross margin Operating expenses Operating income Interest expense Earnings before income taxes Income taxes Net earnings December 312018$3,0008,50012,0001,40024,900103,60064,000$192,500$11,00011,80022,800120,000142,80015,00020,00014,70049,700$192,500 Year Ended December 312018$250,000164,00086,00064,00022,0007,50014,5007,800$6,7002017$8006,0008,20090015,900123,30047,000$186,200$12,0003,20015,200128,000143,20015,00020,0008,00043,000$186,2002017$230,000142,30087,70054,00033,7005,90027,8007,140$20,680 How much is Bent Stew's day's sales in inventory for 2018?
Definitions:
Price Elasticity
A measure of how much the demand or supply of a product changes in response to a change in its price.
Lottery Tickets
Certificates or electronic entries that grant the holder a chance to win a prize in a drawing or contest, often governed by state or national lotteries.
Price Elasticity
A measure of how much the quantity demanded of a good responds to a change in its price, with high elasticity indicating sensitivity to price changes.
Supplier
An entity that provides goods or services, typically in exchange for payment.