Question : 71. Grogan Inc.Grogan Inc. had the following information available from its : 1291644

 

71. Grogan Inc.Grogan Inc. had the following information available from its 2011 and 2012 financial statements: 

Balance sheet information:

2011

 

2012

Current assets

$  15,000

 

$  20,000

Long-term assets

  107,000

 

  207,000

Total assets

$122,000

 

$227,000

 

 

 

 

Current liabilities

$  16,000

 

$  11,500

Long-term liabilities

    40,000

 

    60,000

Total liabilities

$  56,000

 

$  71,500

 

 

 

 

Common stock

$  30,000

 

$71,750

Retained earnings

    36,000

 

  83,750

Total stockholders’ equity

$  66,000

 

$155,500

 

 

 

 

Income statement information:

 

 

 

Income before interest and taxes

$  50,000

 

$105,000

Interest expense

4,000

 

6,000

Tax expense

      10,000

 

    26,250

Net income

$  36,000

 

$72,750

 

 

 

 

Other information:

 

 

 

Dividends paid to stockholders

$        0

 

$25,000

Average income tax rate

20%

 

25%

Net cash flows from operations

$25,000

 

$75,000

Cash paid for acquisitions

$10,000

 

$85,000

 

 

 

 

Refer to the Grogan Inc. information above. Grogan’s times-interest-earned ratio for 2012 is: (round to two decimal places) A. 12.13.B. 16.50.C. 17.50.D. 12.50.

 

72. Grogan Inc.Grogan Inc. had the following information available from its 2011 and 2012 financial statements: 

Balance sheet information:

2011

 

2012

Current assets

$  15,000

 

$  20,000

Long-term assets

  107,000

 

  207,000

Total assets

$122,000

 

$227,000

 

 

 

 

Current liabilities

$  16,000

 

$  11,500

Long-term liabilities

    40,000

 

    60,000

Total liabilities

$  56,000

 

$  71,500

 

 

 

 

Common stock

$  30,000

 

$71,750

Retained earnings

    36,000

 

  83,750

Total stockholders’ equity

$  66,000

 

$155,500

 

 

 

 

Income statement information:

 

 

 

Income before interest and taxes

$  50,000

 

$105,000

Interest expense

4,000

 

6,000

Tax expense

      10,000

 

    26,250

Net income

$  36,000

 

$72,750

 

 

 

 

Other information:

 

 

 

Dividends paid to stockholders

$        0

 

$25,000

Average income tax rate

20%

 

25%

Net cash flows from operations

$25,000

 

$75,000

Cash paid for acquisitions

$10,000

 

$85,000

 

 

 

 

Refer to the Grogan Inc. information above. Grogan’s ratio cash flow from operations to capital expenditures for 2012 is: (round to two decimal places) A. 170.00%.B. 58.82%.C. 250.00%D. 88.24%.

 

73. Grogan Inc.Grogan Inc. had the following information available from its 2011 and 2012 financial statements: 

Balance sheet information:

2011

 

2012

Current assets

$  15,000

 

$  20,000

Long-term assets

  107,000

 

  207,000

Total assets

$122,000

 

$227,000

 

 

 

 

Current liabilities

$  16,000

 

$  11,500

Long-term liabilities

    40,000

 

    60,000

Total liabilities

$  56,000

 

$  71,500

 

 

 

 

Common stock

$  30,000

 

$71,750

Retained earnings

    36,000

 

  83,750

Total stockholders’ equity

$  66,000

 

$155,500

 

 

 

 

Income statement information:

 

 

 

Income before interest and taxes

$  50,000

 

$105,000

Interest expense

4,000

 

6,000

Tax expense

      10,000

 

    26,250

Net income

$  36,000

 

$72,750

 

 

 

 

Other information:

 

 

 

Dividends paid to stockholders

$        0

 

$25,000

Average income tax rate

20%

 

25%

Net cash flows from operations

$25,000

 

$75,000

Cash paid for acquisitions

$10,000

 

$85,000

 

 

 

 

Refer to the Grogan Inc. information above. Grogan’s return on assets (ROA) ratio for 2012 is: (round to two decimal places) A. 44.27%.B. 35.05%.C. 15.04%.D. 45.13%.

 

74. Grogan Inc.Grogan Inc. had the following information available from its 2011 and 2012 financial statements: 

Balance sheet information:

2011

 

2012

Current assets

$  15,000

 

$  20,000

Long-term assets

  107,000

 

  207,000

Total assets

$122,000

 

$227,000

 

 

 

 

Current liabilities

$  16,000

 

$  11,500

Long-term liabilities

    40,000

 

    60,000

Total liabilities

$  56,000

 

$  71,500

 

 

 

 

Common stock

$  30,000

 

$71,750

Retained earnings

    36,000

 

  83,750

Total stockholders’ equity

$  66,000

 

$155,500

 

 

 

 

Income statement information:

 

 

 

Income before interest and taxes

$  50,000

 

$105,000

Interest expense

4,000

 

6,000

Tax expense

      10,000

 

    26,250

Net income

$  36,000

 

$72,750

 

 

 

 

Other information:

 

 

 

Dividends paid to stockholders

$        0

 

$25,000

Average income tax rate

20%

 

25%

Net cash flows from operations

$25,000

 

$75,000

Cash paid for acquisitions

$10,000

 

$85,000

 

 

 

 

Refer to the Grogan Inc. information above. Grogan’s return on common stockholders’ equity (ROCSE) ratio for 2012 is: (round to two decimal places) A. 43.12%.B. 72.23%.C. 46.78%.D. 65.69%.

 

75. Grogan Inc.Grogan Inc. had the following information available from its 2011 and 2012 financial statements: 

Balance sheet information:

2011

 

2012

Current assets

$  15,000

 

$  20,000

Long-term assets

  107,000

 

  207,000

Total assets

$122,000

 

$227,000

 

 

 

 

Current liabilities

$  16,000

 

$  11,500

Long-term liabilities

    40,000

 

    60,000

Total liabilities

$  56,000

 

$  71,500

 

 

 

 

Common stock

$  30,000

 

$71,750

Retained earnings

    36,000

 

  83,750

Total stockholders’ equity

$  66,000

 

$155,500

 

 

 

 

Income statement information:

 

 

 

Income before interest and taxes

$  50,000

 

$105,000

Interest expense

4,000

 

6,000

Tax expense

      10,000

 

    26,250

Net income

$  36,000

 

$72,750

 

 

 

 

Other information:

 

 

 

Dividends paid to stockholders

$        0

 

$25,000

Average income tax rate

20%

 

25%

Net cash flows from operations

$25,000

 

$75,000

Cash paid for acquisitions

$10,000

 

$85,000

 

 

 

 

Refer to the Grogan Inc. information above. Grogan had an average of 7,000 shares of common stock outstanding during 2012. The company’s earnings per share for 2012 is: (round to two decimal places) A. $  6.82.B. $15.00.C. $10.39.D. $  5.14.

 

76. Grogan Inc.Grogan Inc. had the following information available from its 2011 and 2012 financial statements: 

Balance sheet information:

2011

 

2012

Current assets

$  15,000

 

$  20,000

Long-term assets

  107,000

 

  207,000

Total assets

$122,000

 

$227,000

 

 

 

 

Current liabilities

$  16,000

 

$  11,500

Long-term liabilities

    40,000

 

    60,000

Total liabilities

$  56,000

 

$  71,500

 

 

 

 

Common stock

$  30,000

 

$71,750

Retained earnings

    36,000

 

  83,750

Total stockholders’ equity

$  66,000

 

$155,500

 

 

 

 

Income statement information:

 

 

 

Income before interest and taxes

$  50,000

 

$105,000

Interest expense

4,000

 

6,000

Tax expense

      10,000

 

    26,250

Net income

$  36,000

 

$72,750

 

 

 

 

Other information:

 

 

 

Dividends paid to stockholders

$        0

 

$25,000

Average income tax rate

20%

 

25%

Net cash flows from operations

$25,000

 

$75,000

Cash paid for acquisitions

$10,000

 

$85,000

 

 

 

 

Refer to the Grogan Inc. information above. Grogan had an average of 7,000 shares of common stock outstanding during 2012. At the end of the year, the market price per share was $100. The company’s price earnings (P/E) ratio for 2012 is: (round to two decimal places) A. 9.62 to 1.B. 6.67 to 1.C. 14.66 to 1.D. 19.44 to 1.

 

77. Which ratio gives an indication of how investors believe a company’s stock will perform in the future compared to other companies? A. Return on stockholders’ equityB. Earnings per shareC. Price earnings (P/E)D. Return on assets

 

 

 

 

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