Reference no: EM133123471
Questions -
Q1. In 20x7, Butler Tractors had a cost of goods sold of $95.8 million, beginning inventory of $39 million, ending inventory of $45.6 million, and sales revenue of $195 million. What was Butler's inventory turnover for 20x7?
A. 2.3 times
B. 2.5 times
C. 2.1 times
D. 4.6 times.
Q2. For 20x7, East Corporation reported net income of $50,000, net sales of $800,000, and average shares outstanding of 10,000. There were no preferred dividends. What was the 20x7 earnings per share (EPS)?
A. $5.00
B. $80.00
C. $16.00
D. $0.20.
Q3. You have been investing in Ingram Energy for several years. The company is a traditional energy company that derives most of its energy from coal and oil. During this time period, Ingram's liquidity and solvency ratios have been holding steady while its profitability and leverage ratios have been increasing. Recently, legislation was passed that will require all energy companies to drastically lower emission levels while simultaneously limiting the amount of energy that may be generated from coal. What action, if any, should you take at this time?
A. Do nothing. The company's ratios are good, and the legislation will have no impact on expected future returns.
B. Sell now, Ingram Energy is a high risk.
C. Compare Ingram Energy's financial ratios to other udergy companies, especially those that are generating solar energy.
D. Do further research to see how prepared Ingram Energy is to meet these challenges.
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What was butler inventory turnover
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