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asset ratio of 0.64. What is the maximum additional amount that the company can borrow after the additional stock is issued?Select one:a. $53,000 b. None of these total debt before loan: $555,500total assets before loan: $1,658,000 (555,500+1,049,500+(4000*13.25))(555,500+x)/(1,658,000+x)=0.64X=$1,404,500Company can borrow a maximum amount of $1,404,500c. $505,620 d. $1,061,120 FeedbackYour answer is correct.The correct answer is: None of theseCorrectMarks for this submission: 10.00/10.00.Question 5CorrectMark 10.00 out of 10.00Flag questionQuestion textBased on the information below and considering that this company paid $213,500 in cash to its suppliers during the year, what is the company's cost of goods sold for 2015?
1/1/2015 12/31/2015Inventory$122,400$134,560Accounts payable $54,000$123,000CorrectMarks for this submission: 10.00/10.00.Question 6CorrectMark 10.00 out of 10.00Flag questionQuestion textFFS Clothing Store sells socks. During January 2017, its inventory records for one particular brand of socks were as follows:Quantity Price per pairBeginning Inventory16 pairs$18 = $288January 6 Purchase13 pairs$16= $208January 10 Sale15 pairsN/AJanuary 15 Purchase18 pairs$15= $270January 20 Sale22 pairsN/AJanuary 25 Purchase 14 pairs$22= $308
See information for FFS Clothing Store above. Using this information, perpetual LIFO remaining inventory isCorrectMarks for this submission: 10.00/10.00.