Condensed financial data are presented below for the Phoenix Corporation: 2019 2018
A ccounts receivable 267,500 $ 230,000
Inventory 312,500 257,500
Total current assets 670,000 565,000
Intangible assets 50,000 60,000
Total assets 825,000 695,000
Current liabilities 252,500 200,000
Long-term liabilities 77,500 75,000
Sales 1,640,000
Cost of goods sold 982,500
Interest expense 10,000
Income tax expense 77,500
Net income 127,500
Cash flow from operations 71,000
Cash flow from investing activities (6,000)
Cash flow from financing activities (62,500)
Tax rate 30%
1. The inventory turnover for 2019 is (rounded):.
a. 20 times.
b. 6.4 times
c. 6.6 times
d. 7.1 times
2. In a common-size balance sheet, all items are expressed as a percentage of:.
a. total assets
b. total liabilities.
c. total equity
d. total sales.
3. Solvency refers to:.
a. short-term ability to fund the company's operating needs.
b. long-term ability to generate cosh to for plant capacity needs and to fuel growth.
c. long-term ability to generate sufficient cash to satisfy plant capacity needs, fuel growth, and to repay debt when due.
d. the company's ability to generate sufficient cash to repay debt when due.

Part 1.

3.1 times

Part 2.

a. total assets

Part 3

d. the company's ability to generate sufficient cash to repay debt when due.

Explanation:

For Part 1

Inventory turnover measures the activity of liquidity of a company`s inventory. The higher the ratio in comparison, the more efficient the inventory is managed.

Inventory turnover = Cost of Sales ÷ Inventory

therefore,

Inventory turnover = $982,500 ÷ $ 312,500 = 3.1 times

For Part 2

In a common-size Balance Sheet, each item is expressed as a percentage of total assets whereas in a common size Income Statement, Sales revenue is expressed as 100 % and every other item is expressed as a percentage of sales revenue.

For Part 3

Solvency or Liquidity is the ability of short term assets to cover short term liabilities. Also put, it is  the company's ability to generate sufficient cash to repay debt when due.

answer; i believe its (d) intrinsic;

(i know i'm late but the answer's "things about yourself" because you want to list things you're capable of, why you want to open up the business, the amount of money you're putting into it,etc.) i'm guessing you take online school small business, the answers to the quizzes are all over quizlet. just look up your question and type quizlet after it and it'll pop up.