Question :
81. A company preparing a common-size balance sheet and wishes the : 1256439
81. A company is preparing a common-size balance sheet and wishes the base amount to be the total amount of assets. What are the 2013 and 2014 common-size percents for cash?
2013
2014
Cash
$21,904
$32,203
Total current assets
101,769
141,128
Property and equipment
112,577
202,558
Long-term investments
12,700
4,344
Intangible assets
16,621
48,703
Other long-term assets
11,709
13,754
Total assets
$255,376
$410,487
A. 21.52% in 2013 and 22.82% in 2014.B. 7.90% in 2013 and 7.27% in 2014.C. 8.58% in 2013 and 7.85% in 2014.D. 19.30% in 2013 and 20.79 in 2014.E. The percent cannot be computed for 2013 and it is 47.01% in 2014.
82. Oakley Corporation has the following comparative income statements. Which of the following statements is false with regard to this comparative data?
OAKLEY CORPORATION
Comparative Income Statements
For Years Ended December 31, 2014 and 2013
2014
2013
Sales
$360,000
$267,500
Cost of goods sold
237,600
140,170
Gross profit
122,400
127,330
Operating expenses
75,600
51,895
Net income
$46,800
$75,435
A. The common-size sales percent for 2014 equals 100%.B. The common-size net income percent for 2013 equals 28.04%.C. The common-size gross profit percent for 2014 equals (3.87)%.D. The common-size cost of goods sold for 2013 equals 52.4%.E. The common-size operating expenses for 2014 equals.
83. Current assets minus current liabilities is equal to: A. Profit marginB. Financial leverageC. Current ratioD. Working capitalE. Quick assets
84. Current assets divided by current liabilities is equal to the: A. Current ratioB. Quick ratioC. Debt ratioD. Liquidity ratioE. Solvency ratio
85. Quick assets divided by current liabilities is equal to the: A. Acid-test ratioB. Current ratioC. Working capital ratioD. Current liability turnover ratioE. Quick asset turnover ratio
86. Net sales divided by average accounts receivable is equal to the: A. Days’ sales uncollectedB. Average accounts receivable ratioC. Current ratioD. Profit marginE. Accounts receivable turnover ratio
87. Dividing accounts receivable by net sales and multiplying the result by 365 is equal to the: A. Profit marginB. Days’ sales uncollectedC. Accounts receivable turnover ratioD. Average accounts receivable ratioE. Current ratio
88. Dividing ending inventory by cost of goods sold and multiplying the result by 365 is equal to the: A. Inventory turnover ratioB. Profit marginC. Days’ sales in inventoryD. Current ratioE. Total asset turnover
89. Net sales divided by average total assets is equal to the: A. Profit marginB. Total asset turnoverC. Current ratioD. Sales return ratioE. Return on total assets
90. Net income divided by net sales is equal to the: A. Return on total assetsB. Profit marginC. Current ratioD. Total asset turnoverE. Days’ sales in inventory
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