Question Details

Winter Corporation has issued common stock 


1.	Winter 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.

Beginning inventory	$   482,000
Purchases	5,636,000
Ending inventory	?
Average accounts receivable	700,000
Average common stockholders' equity	3,500,000
Sales (all on credit)	7,000,000
Net income	525,000

Required: Compute the following:
A.	Receivables turnover and the average collection period.
B.	Inventory turnover and the days in inventory.
C.	Return on common stockholders' equity.




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