Following Are the Financial Statements for Starman Corporation for the Year

question 109

Multiple Choice

Following are the financial statements for Starman Corporation for the year ended December 31,20xx.Assume that all balance sheet amounts represent both average and ending figures. Starman Corporation
Balance Sheet
December $31,20 x x$
$\begin{array}{lrr}\text { Assets }\\\text { Cash } & \$ 20,000 \\\text { Marketable securities } & 30,000 \\\text { Accounts receivable } & 50,000 \\\text { Inventory } & 100,000 \\\text { Long-term receivables } & 35,000 \\\text { Property, plant, and equipment } & 65,000\\\text { Total assets }&\$300,000\\\\\text { Liabilities and Stockholders' Equity }\\\text { Current liabilities } & \$ 100,000 \\\text { Long-term liabilities } & 60,000 \\\text { Stockholders' equity } & 140,000\\\text { Total liabilities and stockholders' equity }&\$300,000\end{array}$ $\begin{array}{c}\text {Starman Corporation}\\\text { Income Statement }\\\text {For the Year Ended December \( 31,20 \times\times \) }\\\\\begin{array}{lr}\text { Net sales } & \$ 400,000 \\\text { Cost of goods sold } & 240,000 \\ \text { Gross margin } & \$ 160,000 \\\text { Operating expenses } & 40,000 \\\text { Income before income taxes } & \$ 120,000 \\\text { Income taxes expense } & 30,000 \\\text { Net income } & \$ 90,000\end{array}\end{array}$
What is the receivable turnover for this corporation?

• A) 8.0 times
• B) 6.0 times
• C) 4.8 times
• D) 1.8 times

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Definitions:

Excessively Preoccupied

The state of being overly engrossed or obsessed with certain thoughts or activities to the detriment of one's well-being or daily functioning.

Fundamental Psychopathy

This term is not widely recognized in a precise context; it may refer to basic or underlying aspects of psychopathy, a personality disorder characterized by persistent antisocial behavior, lack of empathy, and often, criminality.

Secondary Psychopathy

Describes a subtype of psychopathy characterized by antisocial behaviors that are primarily driven by environmental factors rather than innate personality traits.

Biological Factors

Influences within or deriving from an organism's biological makeup that affect behavior, health, or other aspects of its life.