Net Income =============================================== ACC 400 Final Exam ( New )
Income Taxes ( 30 % of operating income ) $ 27,000 $ 57,000
Net Income =============================================== ACC 400 Final Exam ( New )
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1 . Zelma Company ' s last financial statements provided the following ratios : Current ratio 3:2 Quick ratio 1:2 Accounts receivable turnover 9.0 times Inventory turnover 8.0 times Net income percentage 12.5 % Return on equity 22.6 % Return on assets 9.8 % To the nearest day , what is the operating cycle for Zelma ? a ) 80 days b ) 86 days c ) 172 days d ) 129 days