Reference no: EM132544638
Question 1. A corporation reports the following year-end balance sheet data. The company's working capital equals:
Cash$51,000
Current liabilities$86,000
Accounts receivable 66,000
Long-term liabilities 46,000
Inventory 71,000
Common stock 111,000
Equipment 156,000
Retained earnings 101,000
Total assets$344,000
Total liabilities and equity$344,000
Question 2. Desjardin Landscaping's income statement reports net income of $73,500, which includes deductions for interest expense of $10,600 and income taxes of $33,100. Its times interest earned is:
Question 3. A corporation reports the following year-end balance sheet data. The company's acid-test ratio equals:
Cash$45,000
Current liabilities$80,000
Accounts receivable 60,000
Long-term liabilities 20,000
Inventory 65,000
Common stock 105,000
Equipment 150,000
Retained earnings 115,000
Total assets$320,000
Total liabilities and equity$320,000
Question 4. Refer to the following selected financial information from Shakley's Incorporated. Compute the company's times interest earned for Year 2.
Year 2 Year 1
Net sales $ 481,500 $ 426,850
Cost of goods sold 276,900 250,720
Interest expense 10,300 11,300
Net income before tax 67,850 53,280
Net income after tax 46,650 40,500
Total assets 318,300 291,600
Total liabilities 178,400 167,900
Total equity 139,900 123,700
Question 5. Use the following selected information from Wheeler, LLC to determine the 2017 and 2016 trend percentages for cost of goods sold using 2016 as the base.
2017 2016
Net sales $276,700 $231,500
Cost of goods sold 151,800 129,690
Operating expenses 55,140 53,140
Net earnings 28,120 19,920
Question 6. A corporation reports the following year-end balance sheet data. The company's debt ratio equals:
Cash$47,000
Current liabilities$82,000
Accounts receivable 62,000
Long-term liabilities 40,000
Inventory 67,000
Common stock 107,000
Equipment 152,000
Retained earnings 99,000
Total assets$328,000
Total liabilities and equity$328,000
Question 7. Selected current year company information follows:
Net income$16,253
Net sales 715,855
Total liabilities, beginning-year 86,932
Total liabilities, end-of-year 106,201
Total stockholders' equity, beginning-year 201,935
Total stockholders' equity, end-of-year 126,351
The total asset turnover is (Do not round intermediate calculations.):
Question 8. Refer to the following selected financial information from McCormik, LLC. Compute the company's working capital for Year 2.
Year 2 Year 1
Cash $39,000 $33,750
Short-term investments 105,000 67,500
Accounts receivable, net 93,000 87,000
Merchandise inventory 128,500 132,500
Prepaid expenses 13,600 11,200
Plant assets 395,500 345,500
Accounts payable 105,900 115,300
Net sales 718,500 683,500
Cost of goods sold 397,500 382,500
Question 9. Rajan Company's most recent balance sheet reported total assets of $2.04 million, total liabilities of $0.73 million, and total equity of $1.31 million. Its Debt to equity ratio is:
Question 10. Martinez Corporation reported Net sales of $772,000 and Net income of $135,000. The Profit margin is:
Question 11. Refer to the following selected financial information from McCormik, LLC. Compute the company's current ratio for Year 2.
Year 2 Year 1
Cash $37,800 $32,550
Short-term investments 93,000 61,500
Accounts receivable, net 87,000 81,000
Merchandise inventory 122,500 126,500
Prepaid expenses 12,400 10,000
Plant assets 389,500 339,500
Accounts payable 111,900 109,300
Net sales 712,500 677,500
Cost of goods sold 391,500 376,500
Question 12. Use the following selected information from Wheeler, LLC to determine the 2017 and 2016 common size percentages for operating expenses using Net sales as the base.
2017 2016
Net sales $407,400 $333,800
Cost of goods sold 187,900 132,710
Operating expenses 68,440 65,960
Net earnings 34,540 24,540
Question 13. A company reports basic earnings per share of $3.80, cash dividends per share of $1.40, and a market price per share of $64.90. The company's dividend yield equals:
Question 14. Jones Corp. reported current assets of $202,500 and current liabilities of $144,500 on its most recent balance sheet. The current assets consisted of $59,800 Cash; $40,300 Accounts Receivable; and $102,400 of Inventory. The acid-test (quick) ratio is:
Question 15. A corporation reported cash of $14,900 and total assets of $179,200 on its balance sheet. Its common-size percent for cash equals:
Question 16. Selected current year company information follows:
Net income$17,753
Net sales 730,855
Total liabilities, beginning-year 101,932
Total liabilities, end-of-year 121,201
Total stockholders' equity, beginning-year 216,935
Total stockholders' equity, end-of-year 148,851
The return on total assets is (Do not round intermediate calculations.):
Question 17. A corporation reports the following year-end balance sheet data. The company's current ratio equals:
Cash$49,000
Current liabilities$84,000
Accounts receivable 64,000
Long-term liabilities 20,000
Inventory 69,000
Common stock 109,000
Equipment 154,000
Retained earnings 123,000
Total assets$336,000
Total liabilities and equity$336,000
Question 18. Refer to the following selected financial information from McCormik, LLC. Compute the company's acid-test ratio for Year 2.
Year 2 Year 1
Cash $39,400 $34,150
Short-term investments 109,000 69,500
Accounts receivable, net 95,000 89,000
Merchandise inventory 130,500 134,500
Prepaid expenses 14,000 11,600
Plant assets 397,500 347,500
Accounts payable 103,900 117,300
Net sales 720,500 685,500
Cost of goods sold 399,500 384,500
Question 19. Carducci Corporation reported Net sales of $3.55 million and beginning Total assets of $0.95 million and ending Total assets of $1.35 million. The average Total asset amount is:
Question 20. Jones Corp. reported current assets of $185,000 and current liabilities of $133,000 on its most recent balance sheet. The working capital is