Table 3.1 Information (2013 Values)

Multiple Choice

Table 3.1 Information (2013 values)
1. Sales totaled $110,000
2. The gross profit margin was 25 percent.
3. Inventory turnover was 3.0.
4. There are 360 days in the year.
5. The average collection period was 65 days.
6. The current ratio was 2.40.
7. The total asset turnover was 1.13.
8. The debt ratio was 53.8 percent.
-Notes payable for CEE in 2013 was ________. (See Table 3.1)

A) $113,466
B) $ 52,372
C) $ 41,372
D) $ 10,609