Jones Corporation has issued common stock only. The company has been successful and has a gross profit rate of 20%. The information shown below was taken from the company's financial statements. 
Instructions
Compute the following:
(a) Accounts receivable turnover and the average number of days required to collect the accounts receivable.
(b) The inventory turnover and the average days in inventory.
(c) Return on common stockholders' equity.
Definitions:
Constitution
The system of fundamental principles or established precedents according to which a state or other organization is governed.
Dividends Payable
represents a company's obligation to pay its shareholders a declared amount from its earnings.
Liability
A financial obligation or amount owed by a business or individual to others, which must be settled in the future.
Goodwill
An intangible asset that arises when a business is purchased for more than the fair value of its net identifiable assets.
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