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When a company sells used equipment for a loss, the net profit margin percentage is unaffected.

A) True
B) False

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Sperle Corporation has provided the following data concerning its stockholders' equity accounts: Sperle Corporation has provided the following data concerning its stockholders' equity accounts: Net income for Year 2 was $30,400. Dividends on common stock during Year 2 totaled $6,400. The market price of common stock at the end of Year 2 was $3.08 per share. The company's book value per share at the end of Year 2 is closest to: A) $0.38 per share B) $8.18 per share C) $18.08 per share D) $13.93 per share Net income for Year 2 was $30,400. Dividends on common stock during Year 2 totaled $6,400. The market price of common stock at the end of Year 2 was $3.08 per share. The company's book value per share at the end of Year 2 is closest to:


A) $0.38 per share
B) $8.18 per share
C) $18.08 per share
D) $13.93 per share

E) All of the above
F) None of the above

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Macmillan Corporation has provided the following financial data: Macmillan Corporation has provided the following financial data: Dividends on common stock during Year 2 totaled $7,200. The market price of common stock at the end of Year 2 was $3.69 per share. The company's working capital at the end of Year 2 is: A) $732,000 B) $831,000 C) $289,000 D) $590,000 Macmillan Corporation has provided the following financial data: Dividends on common stock during Year 2 totaled $7,200. The market price of common stock at the end of Year 2 was $3.69 per share. The company's working capital at the end of Year 2 is: A) $732,000 B) $831,000 C) $289,000 D) $590,000 Dividends on common stock during Year 2 totaled $7,200. The market price of common stock at the end of Year 2 was $3.69 per share. The company's working capital at the end of Year 2 is:


A) $732,000
B) $831,000
C) $289,000
D) $590,000

E) C) and D)
F) A) and B)

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A company whose inventory turnover ratio is much slower than the average for its industry may have too much inventory or the wrong sorts of inventory.

A) True
B) False

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The accounts receivable for Note Corporation was $240,000 at the beginning of the year and $260,000 at the end of the year. If the accounts receivable turnover for the year was 8 and 20% of the total sales were cash sales, the total sales for the year were:


A) $2,600,000
B) $2,000,000
C) $2,400,000
D) $2,500,000

E) A) and C)
F) A) and B)

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Settles Corporation has provided the following financial data: Settles Corporation has provided the following financial data: Dividends on common stock during Year 2 totaled $5,400. The market price of common stock at the end of Year 2 was $5.89 per share. The company's return on equity for Year 2 is closest to: A) 3.31% B) 8.50% C) 5.09% D) 50.52% Settles Corporation has provided the following financial data: Dividends on common stock during Year 2 totaled $5,400. The market price of common stock at the end of Year 2 was $5.89 per share. The company's return on equity for Year 2 is closest to: A) 3.31% B) 8.50% C) 5.09% D) 50.52% Dividends on common stock during Year 2 totaled $5,400. The market price of common stock at the end of Year 2 was $5.89 per share. The company's return on equity for Year 2 is closest to:


A) 3.31%
B) 8.50%
C) 5.09%
D) 50.52%

E) B) and C)
F) B) and D)

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Karma Corporation has total assets of $190,000 and total liabilities of $90,000. The corporation's debt-to-equity ratio is closest to:


A) 0.47
B) 0.90
C) 0.53
D) 0.32

E) B) and D)
F) None of the above

Correct Answer

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Mondok Corporation has provided the following financial data: Mondok Corporation has provided the following financial data: Required: a. What is the company's working capital at the end of Year 2? b. What is the company's current ratio at the end of Year 2? c. What is the company's acid-test (quick) ratio at the end of Year 2? d. What is the company's accounts receivable turnover for Year 2? e. What is the company's average collection period (age of receivables) for Year 2? f. What is the company's inventory turnover for Year 2? g. What is the company's average sale period (turnover in days) for Year 2? h. What is the company's operating cycle for Year 2? i. What is the company's total asset turnover for Year 2? j. What is the company's times interest earned for Year 2? k. What is the company's debt-to-equity ratio at the end of Year 2? l. What is the company's equity multiplier at the end of Year 2? Mondok Corporation has provided the following financial data: Required: a. What is the company's working capital at the end of Year 2? b. What is the company's current ratio at the end of Year 2? c. What is the company's acid-test (quick) ratio at the end of Year 2? d. What is the company's accounts receivable turnover for Year 2? e. What is the company's average collection period (age of receivables) for Year 2? f. What is the company's inventory turnover for Year 2? g. What is the company's average sale period (turnover in days) for Year 2? h. What is the company's operating cycle for Year 2? i. What is the company's total asset turnover for Year 2? j. What is the company's times interest earned for Year 2? k. What is the company's debt-to-equity ratio at the end of Year 2? l. What is the company's equity multiplier at the end of Year 2? Required: a. What is the company's working capital at the end of Year 2? b. What is the company's current ratio at the end of Year 2? c. What is the company's acid-test (quick) ratio at the end of Year 2? d. What is the company's accounts receivable turnover for Year 2? e. What is the company's average collection period (age of receivables) for Year 2? f. What is the company's inventory turnover for Year 2? g. What is the company's average sale period (turnover in days) for Year 2? h. What is the company's operating cycle for Year 2? i. What is the company's total asset turnover for Year 2? j. What is the company's times interest earned for Year 2? k. What is the company's debt-to-equity ratio at the end of Year 2? l. What is the company's equity multiplier at the end of Year 2?

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a. Working capital = Current assets - Cu...

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Crosswhite Corporation's sales last year were $1,270,000, its gross margin was $400,000, its net operating income was $53,769, and its net income was $26,500. The company's net profit margin percentage is closest to:


A) 31.5%
B) 3.2%
C) 4.2%
D) 2.1%

E) None of the above
F) B) and C)

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Sperle Corporation has provided the following data concerning its stockholders' equity accounts: Sperle Corporation has provided the following data concerning its stockholders' equity accounts: Net income for Year 2 was $30,400. Dividends on common stock during Year 2 totaled $6,400. The market price of common stock at the end of Year 2 was $3.08 per share. The company's dividend yield ratio for Year 2 is closest to: A) 21.1% B) 2.6% C) 1.6% D) 14.7% Net income for Year 2 was $30,400. Dividends on common stock during Year 2 totaled $6,400. The market price of common stock at the end of Year 2 was $3.08 per share. The company's dividend yield ratio for Year 2 is closest to:


A) 21.1%
B) 2.6%
C) 1.6%
D) 14.7%

E) B) and D)
F) A) and C)

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Mahoe Corporation has provided the following financial data: Mahoe Corporation has provided the following financial data: Dividends on common stock during Year 2 totaled $500. The market price of common stock at the end of Year 2 was $8.06 per share. The company's equity multiplier at the end of Year 2 is closest to: A) 0.28 B) 1.28 C) 3.53 D) 0.78 Mahoe Corporation has provided the following financial data: Dividends on common stock during Year 2 totaled $500. The market price of common stock at the end of Year 2 was $8.06 per share. The company's equity multiplier at the end of Year 2 is closest to: A) 0.28 B) 1.28 C) 3.53 D) 0.78 Dividends on common stock during Year 2 totaled $500. The market price of common stock at the end of Year 2 was $8.06 per share. The company's equity multiplier at the end of Year 2 is closest to:


A) 0.28
B) 1.28
C) 3.53
D) 0.78

E) None of the above
F) B) and D)

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Garrott Corporation's total assets were $1,505,000 at the end of Year 2 and $1,520,000 at the end of Year 1. Its total stockholders' equity was $1,197,000 at the end of Year 2 and $1,180,000 at the end of Year 1. Garrott Corporation's total assets were $1,505,000 at the end of Year 2 and $1,520,000 at the end of Year 1. Its total stockholders' equity was $1,197,000 at the end of Year 2 and $1,180,000 at the end of Year 1. The company's net profit margin percentage for Year 2 is closest to: A) 1.9% B) 2.7% C) 3.3% D) 38.1% The company's net profit margin percentage for Year 2 is closest to:


A) 1.9%
B) 2.7%
C) 3.3%
D) 38.1%

E) B) and C)
F) All of the above

Correct Answer

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Tweedle Corporation's most recent balance sheet and income statement appear below: Tweedle Corporation's most recent balance sheet and income statement appear below: The times interest earned for Year 2 is closest to: A) 6.40 B) 9.16 C) 14.51 D) 10.16 Tweedle Corporation's most recent balance sheet and income statement appear below: The times interest earned for Year 2 is closest to: A) 6.40 B) 9.16 C) 14.51 D) 10.16 The times interest earned for Year 2 is closest to:


A) 6.40
B) 9.16
C) 14.51
D) 10.16

E) C) and D)
F) A) and B)

Correct Answer

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Settles Corporation has provided the following financial data: Settles Corporation has provided the following financial data: Dividends on common stock during Year 2 totaled $5,400. The market price of common stock at the end of Year 2 was $5.89 per share. The company's price-earnings ratio for Year 2 is closest to: A) 19.00 B) 12.53 C) 7.46 D) 1.52 Settles Corporation has provided the following financial data: Dividends on common stock during Year 2 totaled $5,400. The market price of common stock at the end of Year 2 was $5.89 per share. The company's price-earnings ratio for Year 2 is closest to: A) 19.00 B) 12.53 C) 7.46 D) 1.52 Dividends on common stock during Year 2 totaled $5,400. The market price of common stock at the end of Year 2 was $5.89 per share. The company's price-earnings ratio for Year 2 is closest to:


A) 19.00
B) 12.53
C) 7.46
D) 1.52

E) None of the above
F) A) and C)

Correct Answer

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Data from Fontecchio Corporation's most recent balance sheet appear below:  Cash $18,000 Marketable securities $24,000 Accounts receivable $39,000 Short-term notes receivable $0 Inventory $60,000 Prepaid expenses $14,000 Current liabilities $120,000\begin{array} { | l r | } \hline \text { Cash } & \$ 18,000 \\\hline \text { Marketable securities } & \$ 24,000 \\\hline \text { Accounts receivable } & \$ 39,000 \\\hline \text { Short-term notes receivable } & \$ 0 \\\hline \text { Inventory } & \$ 60,000 \\\hline \text { Prepaid expenses } & \$ 14,000 \\\hline \text { Current liabilities } & \$ 120,000 \\\hline\end{array} The corporation's acid-test ratio is closest to:


A) 0.35
B) 0.15
C) 0.68
D) 0.79

E) A) and B)
F) B) and C)

Correct Answer

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The formula for total asset turnover is: Total asset turnover = Total assets ÷ Total stockholders' equity.

A) True
B) False

Correct Answer

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Data from Lheureux Corporation's most recent balance sheet and the company's income statement appear below: Data from Lheureux Corporation's most recent balance sheet and the company's income statement appear below: The times interest earned for Year 2 is closest to: A) 2.22 B) 4.17 C) 3.17 D) 5.95 Data from Lheureux Corporation's most recent balance sheet and the company's income statement appear below: The times interest earned for Year 2 is closest to: A) 2.22 B) 4.17 C) 3.17 D) 5.95 The times interest earned for Year 2 is closest to:


A) 2.22
B) 4.17
C) 3.17
D) 5.95

E) A) and C)
F) None of the above

Correct Answer

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Frantic Corporation had $130,000 in sales on account last year. The beginning accounts receivable balance was $10,000 and the ending accounts receivable balance was $16,000. The corporation's accounts receivable turnover was closest to:


A) 5.00
B) 13.00
C) 10.00
D) 8.13

E) All of the above
F) A) and C)

Correct Answer

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Dahn Corporation has provided the following financial data: Dahn Corporation has provided the following financial data: Dividends on common stock during Year 2 totaled $1,600. The market price of common stock at the end of Year 2 was $2.37 per share. The company's inventory turnover for Year 2 is closest to: A) 6.54 B) 5.67 C) 6.07 D) 0.87 Dahn Corporation has provided the following financial data: Dividends on common stock during Year 2 totaled $1,600. The market price of common stock at the end of Year 2 was $2.37 per share. The company's inventory turnover for Year 2 is closest to: A) 6.54 B) 5.67 C) 6.07 D) 0.87 Dividends on common stock during Year 2 totaled $1,600. The market price of common stock at the end of Year 2 was $2.37 per share. The company's inventory turnover for Year 2 is closest to:


A) 6.54
B) 5.67
C) 6.07
D) 0.87

E) B) and C)
F) B) and D)

Correct Answer

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The price-earnings ratio is determined by dividing market price per share of stock by the earnings per share.

A) True
B) False

Correct Answer

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