- 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:
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.)
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.)