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

question 42

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.StarrKnight Corporation's accounts receivable turnover ratio for 2008 is (use average accounts receivable) _______.

• A)2.88
• B)15.43
• C)21.35
• D)29.53
• E)34.58

Understand the significance of social and cultural factors in psychology through perspectives like sociocultural theory.

Appreciate the importance of research in debunking myths and developing new theories in psychology.

Recognize the impact of external environments and behavioral perspectives on human actions and experiences.

Acknowledge the ethical and practical implications of psychological research and therapy.

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Definitions:

Concise

The quality of expressing much in few words without losing clarity or relevance.

Impersonal

Lacking personal feeling or connection, often characterized by a formal or distant manner.

Five Goals

Specific objectives or targets that one aims to achieve, often used in planning and motivational contexts.

Business Relationships

Bonds or connections between businesses and their stakeholders, including customers, suppliers, and partners.