An important teaching tip and trick is to recap the course content.  You learn more by putting things into your own words and explaining to others.  In a minimum of 4 sentences, what you have learned in the lecture recordings for this week*? You must use your own words and not AI or any other plagiarized sources in your essay submission. You can use a bulleted list if you wish.   *I know when these quizzes are announced in the recordings, and I can and will be checking timestamps.  If you have not watched the recording prior to taking this quiz, you will receive a 0 on this question as you have not learned anything from the lecture recordings.  If you have watched the entire playlist prior to taking the quiz, feel free to discuss all of the content from this week or just from this specific video. 

Excerpts from Andre Company’s December 31, 2024 and 2023, financial statements are presented below: 20242023Accounts receivable$ 40,000$ 36,000Inventory28,00035,000Net sales190,000186,000Cost of goods sold114,000108,000Total assets425,000405,000Total stockholders’ equity240,000225,000Net income32,50028,000 What is the asset turnover for 2024?Note: Round your answer to one decimal place.

Under the indirect method, a decrease in accounts receivable is added to net income to arrive at net cash flows from operating activities.

Cash flows from investing activities include:

A loss on the sale of long-term assets is added back to net income to arrive at net cash flows from operating activities under the indirect method.

Excerpts from Nationwide Company’s December 31, 2024 and 2023, financial statements are presented below: 20242023Accounts receivable$ 80,000$ 72,000Inventory84,00070,000Net sales (all credit)400,000372,000Cost of goods sold254,000216,000Total assets850,000810,000Total stockholders’ equity500,000450,000Net income75,00056,000 What is the receivables turnover ratio for 2024?Note: Round your answer to one decimal place.

The number of shares outstanding is equal to the number of shares issued by the company minus the number of the company’s own shares that it has purchased.

A feature common to both stock splits and stock dividends is:

The ending Retained Earnings balance of Lambert Incorporated increased by $1.5 million from the beginning of the year. The company’s net income earned during the year is $3.5 million. What is the amount of dividends Lambert Incorporated declared and paid?

Assume net income was $140,000, depreciation expense was $5,700, accounts receivable decreased by $10,000, and accounts payable decreased by $3,300. The amount of net cash flows from operating activities is: