Question :
111. A company’s balance sheet and income statement accounts follow:
At December : 1256442
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%
