The following information relates to Rodeo Corporation.

  1. The following information relates to Rodeo Corporation.
  2. Current assets                  $70,000
  3. Current liabilities               $52,500
  4. Long-term assets               $210,000
  5. Long-term liabilities            $140,000
  6. Based on this information, the amount of the current assets financed by the long-term liabilities is:​
  7. a.​$12,500.
  8. b.​$17,500.
  9. c.​$52,500.
  10. d.​$70,000
  11. .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

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