The Hummel Corporation Reported the Following Income Statement and Balance

question 2

Multiple Choice

The Hummel Corporation reported the following income statement and balance sheet amounts and additional information for the end of the current year. Inventory and prepaid expenses account for $28,000 of the current year's current assets.
Average inventory for the current year is $11,000.
Average net accounts receivable for the current year is $32,000.
There are 40,000 shares of common stock outstanding.
Total dividends paid during the current year were $60,000.
The market price per share of common stock is $25.
What is the company's inventory turnover for the current year?

• A)73.00 times
• B)46.09 times
• C)2)55 times
• D)36.36 times

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Definitions:

MessageBox Action

In programming, an action that triggers a message box to display information or require user interaction.

OpenForm Action

A command or method in software development that initiates the opening of a form within an application, typically used in graphical user interfaces.

If Statement

A programming conditional statement that executes a block of code if a specified condition is true.

Conditional Expression

An expression in programming that evaluates to true or false and dictates the flow of control based on specified conditions.