178. The following information is available for the Starr Corporation: Sales......................... $750,000 Cost of goods sold................ 450,000 Gross profit..................... 300,000 Operating income................. 85,000 Net income..................... 42,000 Inventory, beginning-year........... 71,200 Inventory, end-of-year.............. 48,800 Calculate the company's inventory turnover and its days' sales in inventory. 179. The following current year information is available from a manufacturing company: Sales......................... $740,000 Gross profit on sales............... 276,000 Operating income................. 64,000 Income before taxes............... 44,000 Net income..................... 33,600 Accounts Receivable, beginning-year.... 58,000 Accounts Receivable, end-of-year...... 72,000 Calculate the company's accounts receivable turnover and its days' sales uncollected. 180. Information from a manufacturing company's current year income statement follows.Calculate the company's (a) profit margin ratio, (b) gross margin ratio, and (c) times interest earned. Sales......................... $850,000 Cost of goods sold................ 455,000 Gross profit.................... $395,000 Operating expenses............... 260,000 Operating income................ $135,000 Interest expense.................. 32,000 Income before taxes............... $103,000 Income taxes expense.............. 12,400 Net income.................... $ 90,600

178. The following information is available for the Starr Corporation: Sales......................... $750,000 Cost of goods sold................ 450,000 Gross...

178. The following information is available for the Starr Corporation:

Sales.........................	$750,000
Cost of goods sold................	450,000
Gross profit.....................	300,000
Operating income.................	85,000
Net income.....................	42,000
Inventory, beginning-year...........	71,200
Inventory, end-of-year..............	48,800

Calculate the company's inventory turnover and its days' sales in inventory.

179. The following current year information is available from a manufacturing company:

Sales.........................	$740,000
Gross profit on sales...............	276,000
Operating income.................	64,000
Income before taxes...............	44,000
Net income.....................	33,600
Accounts Receivable, beginning-year....	58,000
Accounts Receivable, end-of-year......	72,000

Calculate the company's accounts receivable turnover and its days' sales uncollected.

180. Information from a manufacturing company's current year income statement follows.Calculate the company's (a) profit margin ratio, (b) gross margin ratio, and (c) times interest earned.

Sales.........................	$850,000
Cost of goods sold................	455,000
Gross profit....................	$395,000
Operating expenses...............	260,000
Operating income................	$135,000
Interest expense..................	32,000
Income before taxes...............	$103,000
Income taxes expense..............	12,400
Net income....................	$ 90,600

May 15, 2022

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178. The following information is available for the Starr Corporation: Sales......................... $750,000 Cost of goods sold................ 450,000 Gross...

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