StarrKnight Corporation's Balance Sheet and Income Statement as Shown Below

question 51

Multiple Choice

StarrKnight Corporation's Balance Sheet and Income Statement as shown below:
$\begin{array}{c}\text { BALANCE SHEET }\\\text { (in thousands of dollars) }\\\begin{array}{lll}\text {ASSETS } \\\text { Current Assets } \\\text { Cash } \\\text {Receivables } \\\text { Inventories } \\\text { Total } \\\text { Fixed Assets} \\\text { Total Assets}\\\end{array}\begin{array}{r}2008\\\hline\\\$ 21,113 \\7,336 \\\underline{25,135 }\\ \$ 53,584 \\\underline{25,767 }\\ \$ 79,351\end{array}\begin{array}{r}2007 \\\hline\\ \$ 19,930 \\3,275 \\\underline{24,270} \\\$ 47,475 \\\underline{19,720} \\\$ 67,195\end{array}\end{array}$

$\begin{array}{l}\begin{array}{lll} \text { LIABILITIES }\\ \text { Current Liabilities }\\ \text { Accounts Payable }\\ \text { Notes Payable}\\ \text { Other }\\ \text { Total }\\\end{array}\begin{array}{r}2008 \\\hline\\\$ 9,493 \\429 \\\underline{3,990}\\\$ 13,912\end{array}\begin{array}{r}2007 \\\hline\\ \$ 7,273 \\416 \\\underline{3,180} \\\$10,869 \\\end{array}\end{array}$

$\begin{array}{l}\begin{array}{l}\text { Long-term Liabilities }\\\text { Stockholder's Equity }\\\text { Total Liability and Equity }\\\end{array}\begin{array}{r}7 , 7 9 6 \\\underline{5 7 , 6 4 3} \\\$ 7 9 , 3 5 1\end{array}\begin{array}{r}6,088 \\\underline{50,238} \\\$ 67,195 \\\end{array}\end{array}$

$\begin{array}{c} \text { NET INCOME} & \\ \text { (in thousands of dollars) } \\\end{array}$


$\begin{array}{c}\begin{array}{l} \text { Net Sales } \\ \text { Cost of Goods Sold } \\ \text { Other Operating Expenses} \\ \text {Operating Profit } \\\\ \text {Other Income } \\ \text {Interest } \\ \text { Tax} \\\\ \text {Net Profit } \\ \text { Dividends } \\ \text {Retained Earnings } \\\end{array}\begin{array}{r}2008 \\\hline \$ 113,260 \\75,586 \\\underline{30,998} \\ \$ 6,676 \\\\7,061 \\658 \\3,924 \\\underline{\$ 9,155}\\\$ 460 \\\$ 8,695\end{array}\begin{array}{r}2007 \\\hline \$ 96,695 \\65,039 \\\underline{26,208} \\ \$ 5,448 \\6,280 \\520 \\3,362 \\\\\underline{\$ 7,846}\\\$ 441 \\\$ 7,405\end{array}\end{array}$


-Refer to the above tables.The average inventory for the StarrKnight Corporation in 2008 is __________.

• A)$12,567.50
• B)$12,883.50
• C)$23,837.50
• D)$24,702.50
• E)$25,567.50

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Definitions:

Socioeconomic Factors

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Causal Relationship

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DSM-5

The Diagnostic and Statistical Manual of Mental Disorders, Fifth Edition, a comprehensive classification system for mental disorders developed by the American Psychiatric Association.