147.Use this balance sheet and income statement for the first year of operations for Layton Novelties, Inc. to answer the following question. Use ending balances whenever average balances are required for computing ratios.
The total amount of working capital of Layton Novelties, Inc. is
a.
$12,000.
b.
$28,000.
c.
$4,000.
d.
$8,000.
148.Use this balance sheet and income statement for the first year of operations for Layton Novelties, Inc. to answer the following question. Use ending balances whenever average balances are required for computing ratios.
The current ratio for Layton Novelties, Inc. is
a.
2.00.
b.
1.75.
c.
1.40.
d.
0.57.
149.Use this balance sheet and income statement for the first year of operations for Layton Novelties, Inc. to answer the following question. Use ending balances whenever average balances are required for computing ratios.
The profit margin of Layton Novelties, Inc. is
a.
60 percent.
b.
30 percent.
c.
27 percent.
d.
75 percent.
150.Use this balance sheet and income statement for the first year of operations for Layton Novelties, Inc. to answer the following question. Use ending balances whenever average balances are required for computing ratios.
The return on assets for Layton Novelties, Inc. is
a.
66-2/3 percent.
b.
18 percent.
c.
40 percent.
d.
70 percent.
151.Use this balance sheet and income statement for the first year of operations for Layton Novelties, Inc. to answer the following question. Use ending balances whenever average balances are required for computing ratios.
The return on equity for Layton Novelties, Inc. is
a.
48.0 percent.
b.
30.7 percent.
c.
42.3 percent.
d.
21.6 percent.
152.Use this balance sheet and income statement for the first year of operations for Layton Novelties, Inc. to answer the following question. Use ending balances whenever average balances are required for computing ratios.
The debt to equity ratio for Layton Novelties, Inc. is
a.
16-2/3 percent.
b.
20 percent.
c.
80 percent.
d.
83-1/3 percent.
153.Use this information to answer the following question.
The debt to equity ratio is
a.
0.67.
b.
2.20.
c.
0.46.
d.
0.33.
154.Use this information to answer the following question.
The total amount of working capital is
a.
$140,000.
b.
$40,000.
c.
$370,000.
d.
$60,000.
155.Use this information to answer the following question.
The debt to equity ratio is
a.
0.48.
b.
0.66.
c.
0.52.
d.
0.34.
156.Use this information to answer the following question.
The total amount of working capital is
a.
$70,000.
b.
$180,000.
c.
$124,000.
d.
$500,000.
157.Working capital measures
a.
the profitability of the business.
b.
the excess of current assets over current liabilities.
c.
the ability to earn a satisfactory income.
d.
the amount of debt in the company.
158.The asset turnover ratio measures
a.
how efficiently equity is used to produce revenue.
b.
the income produced by selling inventory.
c.
how quickly the company uses assets to pay debt.
d.
how efficiently assets are used to produce sales.
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