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The following information relates to Rodeo Corporation.
- The following information relates to Rodeo Corporation.
- Current assets $70,000
- Current liabilities $52,500
- Long-term assets $210,000
- Long-term liabilities $140,000
- Based on this information, the amount of the current assets financed by the long-term liabilities is:
- a.$12,500.
- b.$17,500.
- c.$52,500.
- d.$70,000
- .e.$102,500.
Grant Technologies is planning to get a 210-day $300,000 simple interest loan from its bank with a quoted interest rate of 11 percent and a 20% compensating balance requirement. Assuming there are 360 days in a year and Grant currently holds no funds at the lending bank, what is the annual percentage rate (APR) of the loan? (Round your answer to two decimal places.)
a.12.55%
b.12.85%
c.13.35%
d.13.05%
e.13.75%
The following information relates to Musk Corporation.
Inventory conversion period 15 days
Closing inventory $28,000
Assuming there are 360 days in a year, what is the company's total cost of goods sold during the year? (Round your answer to two decimal places.)
a.$580,000
b.$475,000
c.$550,000
d.$750,000
e.$672,000
