111. A company’s balance sheet and income statement accounts follow:
At December 31
2014
2013
2012
Assets
Cash
$30,872
$36,086
$37,974
Accounts receivable, net
89,476
63,151
50,632
Merchandise inventory
112,499
83,450
54,467
Prepaid expenses
9,942
9,473
4,219
Plant assets, net
291,143
268,126
244,108
Total assets
$533,932
$460,286
$391,400
Liabilities and Equity
Accounts payable
$130,290
$76,233
$50,632
Long-term notes payable secured by mortgages on plant assets
98,372
103,748
107,769
Common stock, $10 par value
142,500
132,500
102,500
Retained earnings
182,770
147,805
130,499
Total liabilities and equity
$533,932
$460,286
$391,400
For Year Ended December 31
2014
2013
Sales
$694,112
$547,740
Cost of goods sold
$423,408
$356,031
Other operating expenses
215,175
138,578
Interest expense
11,800
12,598
Income taxes
9,023
8,216
Total costs and expenses
659,406
515,423
Net income
$34,706
$32,317
Earnings per share
$2.14
$1.99
What is the company’s times interest earned ratio for 2013?
A. 3.57%B. 4.22%C. 3.69%D. 2.75%E. 2.57%
112. A company’s balance sheet and income statement accounts follow:
At December 31
2014
2013
2012
Assets
Cash
$30,872
$36,086
$37,974
Accounts receivable, net
89,476
63,151
50,632
Merchandise inventory
112,499
83,450
54,467
Prepaid expenses
9,942
9,473
4,219
Plant assets, net
291,143
268,126
244,108
Total assets
$533,932
$460,286
$391,400
Liabilities and Equity
Accounts payable
$130,290
$76,233
$50,632
Long-term notes payable secured by mortgages on plant assets
98,372
103,748
107,769
Common stock, $10 par value
142,500
132,500
102,500
Retained earnings
182,770
147,805
130,499
Total liabilities and equity
$533,932
$460,286
$391,400
For Year Ended December 31
2014
2013
Sales
$694,112
$547,740
Cost of goods sold
$423,408
$356,031
Other operating expenses
215,175
138,578
Interest expense
11,800
12,598
Income taxes
9,023
8,216
Total costs and expenses
659,406
515,423
Net income
$34,706
$32,317
Earnings per share
$2.14
$1.99
What is the company’s profit margin ratio for 2014?
A. 65%B. 12%C. 3.7%D. 5.9%E. 5.0%
113. A company’s balance sheet and income statement accounts follow:
At December 31
2014
2013
2012
Assets
Cash
$30,872
$36,086
$37,974
Accounts receivable, net
89,476
63,151
50,632
Merchandise inventory
112,499
83,450
54,467
Prepaid expenses
9,942
9,473
4,219
Plant assets, net
291,143
268,126
244,108
Total assets
$533,932
$460,286
$391,400
Liabilities and Equity
Accounts payable
$130,290
$76,233
$50,632
Long-term notes payable secured by mortgages on plant assets
98,372
103,748
107,769
Common stock, $10 par value
142,500
132,500
102,500
Retained earnings
182,770
147,805
130,499
Total liabilities and equity
$533,932
$460,286
$391,400
For Year Ended December 31
2014
2013
Sales
$694,112
$547,740
Cost of goods sold
$423,408
$356,031
Other operating expenses
215,175
138,578
Interest expense
11,800
12,598
Income taxes
9,023
8,216
Total costs and expenses
659,406
515,423
Net income
$34,706
$32,317
Earnings per share
$2.14
$1.99
What is the company’s gross margin ratio for 2013?
A. 65%B. 35%C. 67%D. 33%E. 39%
114. A company has sales of $2,458,422, a gross profit ratio of 23%, a days’ sales in inventory ratio of 12.4, and total current assets of $539,600. What is the ending inventory for the year?
A. $46,013B. $58,000C. $64,310D. $61,715E. $55,951
115. A company has sales of $5,417,000, a gross profit ratio of 35%, ending merchandise inventory of $201,425, and total current assets of $1,539,600. What is the days sales’ in inventory ratio for the year?
A. 6.10B. 20.88C. 26.15D. 22.67E. 15.77
116. A company has long-term notes payable of $175,625, taxes of $9,500, ending merchandise inventory of $450,290, interest expense of $14,050, net sales of $720,000 a gross profit ratio of 35%, a times interest earned ratio of 4.23, and total assets of $1,300,417. What is the company’s earnings before interest and taxes?
A. $252,000B. $65,814C. $269,710D. 106,696E. $59,432
117. A company has total assets of $5,600,482, common stock of $2,111,111, retained earnings of $1,058,473. What is the company’s debt ratio?
A. 43.41%B. 65.00%C. 41.57%D. 50.00%E. 42.81%
118. A company has total assets of $5,600,482, common stock of $2,111,111, retained earnings of $1,058,473. What is the company’s equity ratio?
A. 43.41%B. 65.00%C. 41.57%D. 56.59%E. 54.22%
Delivering a high-quality product at a reasonable price is not enough anymore.
That’s why we have developed 5 beneficial guarantees that will make your experience with our service enjoyable, easy, and safe.
You have to be 100% sure of the quality of your product to give a money-back guarantee. This describes us perfectly. Make sure that this guarantee is totally transparent.
Read moreEach paper is composed from scratch, according to your instructions. It is then checked by our plagiarism-detection software. There is no gap where plagiarism could squeeze in.
Read moreThanks to our free revisions, there is no way for you to be unsatisfied. We will work on your paper until you are completely happy with the result.
Read moreYour email is safe, as we store it according to international data protection rules. Your bank details are secure, as we use only reliable payment systems.
Read moreBy sending us your money, you buy the service we provide. Check out our terms and conditions if you prefer business talks to be laid out in official language.
Read more