. Waters Department Store had net credit sales of $12,000,000 and cost of goods sold of $9,000,000 for the year. The average inventory for the year amounted to $2,000,000.
The average number of days in inventory during the year was (Points: 4) 122 days. 81 days. 61 days. 35 days.

2. Earnings per share is calculated (Points: 4) only for common stock. only for preferred stock. for common and preferred stock. only for treasury stock.

3. The order of presentation of nontypical items that may appear on the income statement is (Points: 4) Extraordinary items, Discontinued operations, Other revenues and expenses. Discontinued operations, Extraordinary items, Other revenues and expenses. Other revenues and expenses, Discontinued operations, Extraordinary items. Other revenues and expenses, Extraordinary items, Discontinued operations.

4. A stockholder is interested in the ability of a firm to (Points: 4) pay consistent dividends. appreciate in share price. survive over a long period. all of these.

5. Waters Department Store had net credit sales of $12,000,000 and cost of goods sold of $9,000,000 for the year. The average inventory for the year amounted to $2,000,000.
The average number of days in inventory during the year was (Points: 4) 122 days. 81 days. 61 days. 35 days.

6. Profit margin is calculated by dividing (Points: 4) sales by cost of goods sold. gross profit by net sales. net income by stockholders' equity. net income by net sales.

7. Earnings per share is calculated (Points: 4) only for common stock. only for preferred stock. for common and preferred stock. only for treasury stock.