Question : 101. A company had a profit margin of 5%. If net : 1256441

 

 

101. A company had a profit margin of 5%. If net income equaled $83,000 and average total assets equaled $45,000, how much were net sales? A. $4,150B. $2,250C. $1,660,000D. $6,400E. $128,000

 

 

102. A company had a return on common stockholders’ equity of 22%. Net income equaled $600,000 and average common stockholders’ equity equaled $2,500,000. Compute the amount of the preferred dividends declared. A. $50,000B. $550,000C. $132,000D. $10,763,636E. $10,000

 

 

103. A company had a return on common stockholders’ equity of 25%. Net income equaled $200,000 and average common stockholders’ equity equaled $700,000. Compute the amount of the preferred dividends declared. A. $200,000B. $500,000C. $50,000D. $25,000E. $175,000

 

 

 

104. Corona Company’s balance sheet accounts follow:

At December 31

2014

2013

2012

Assets

 

 

 

Cash

$25,868

$31,163

$31,182

Accounts receivable, net

78,034

53,995

41,152

Merchandise inventory

95,120

73,491

46,095

Prepaid expenses

8,330

8,099

3,429

Plant assets, net

241,854

218,932

199,542

Total assets

$449,206

$385,680

$321,400

Liabilities and Equity

 

 

 

Accounts payable

$108,058

$67,135

$42,849

Long-term notes payable secured by mortgages   on plant assets

85,791

87,819

71,029

Common stock, $10 par value

162,500

162,500

162,500

Retained earnings

92,857

68,226

45,022

Total liabilities and equity

$449,206

$385,680

$321,400

What is Corona Company’s debt to equity ratio for 2013? A. 1.49B. .71C. .40D. 4.39E. .67

 

 

105. Corona Company’s balance sheet accounts follow:

At December 31

2014

2013

2012

Assets

 

 

 

Cash

$25,868

$31,163

$31,182

Accounts receivable, net

78,034

53,995

41,152

Merchandise inventory

95,120

73,491

46,095

Prepaid expenses

8,330

8,099

3,429

Plant assets, net

241,854

218,932

199,542

Total assets

$449,206

$385,680

$321,400

Liabilities and Equity

 

 

 

Accounts payable

$108,058

$67,135

$42,849

Long-term notes payable secured by mortgages   on plant assets

85,791

87,819

71,029

Common stock, $10 par value

162,500

162,500

162,500

Retained earnings

92,857

68,226

45,022

Total liabilities and equity

$449,206

$385,680

$321,400

What is Corona Company’s accounts receivable turnover ratio for 2013, assuming net sales for the period were $1,236,783? A. 27.21B. 25.99C. 22.91D. 30.05E. 15.85

 

 

106. Corona Company’s balance sheet accounts follow:

At December 31

2014

2013

2012

Assets

 

 

 

Cash

$25,868

$31,163

$31,182

Accounts receivable, net

78,034

53,995

41,152

Merchandise inventory

95,120

73,491

46,095

Prepaid expenses

8,330

8,099

3,429

Plant assets, net

241,854

218,932

199,542

Total assets

$449,206

$385,680

$321,400

Liabilities and Equity

 

 

 

Accounts payable

$108,058

$67,135

$42,849

Long-term notes payable secured by mortgages   on plant assets

85,791

87,819

71,029

Common stock, $10 par value

162,500

162,500

162,500

Retained earnings

92,857

68,226

45,022

Total liabilities and equity

$449,206

$385,680

$321,400

What is Corona Company’s inventory turnover ratio for 2014, assuming net sales and gross profit for the period were $1,236,783, $927,587 respectively? A. 10.96B. 3.25C. 3.00D. 3.65E. 4.20

 

 

107. Corona Company’s balance sheet accounts follow:

At December 31

2014

2013

2012

Assets

 

 

 

Cash

$25,868

$31,163

$31,182

Accounts receivable, net

78,034

53,995

41,152

Merchandise inventory

95,120

73,491

46,095

Prepaid expenses

8,330

8,099

3,429

Plant assets, net

241,854

218,932

199,542

Total assets

$449,206

$385,680

$321,400

Liabilities and Equity

 

 

 

Accounts payable

$108,058

$67,135

$42,849

Long-term notes payable secured by mortgages   on plant assets

85,791

87,819

71,029

Common stock, $10 par value

162,500

162,500

162,500

Retained earnings

92,857

68,226

45,022

Total liabilities and equity

$449,206

$385,680

$321,400

What is Corona Company’s days’ sales uncollected ratio for 2014 assuming net sales and gross profit for the period were $1,236,783, $927,587 respectively? A. 25.20B. 23.03C. 20.99D. 24.58E. 22.17

 

 

108. Corona Company’s balance sheet accounts follow:

At December 31

2014

2013

2012

Assets

 

 

 

Cash

$25,868

$31,163

$31,182

Accounts receivable, net

78,034

53,995

41,152

Merchandise inventory

95,120

73,491

46,095

Prepaid expenses

8,330

8,099

3,429

Plant assets, net

241,854

218,932

199,542

Total assets

$449,206

$385,680

$321,400

Liabilities and Equity

 

 

 

Accounts payable

$108,058

$67,135

$42,849

Long-term notes payable secured by mortgages   on plant assets

85,791

87,819

71,029

Common stock, $10 par value

162,500

162,500

162,500

Retained earnings

92,857

68,226

45,022

Total liabilities and equity

$449,206

$385,680

$321,400

What is Corona Company’s days’ sales in inventory ratio for 2014, assuming net sales and gross profit for the period were $1,236,783, $927,587 respectively? A. 86.75B. 112.29C. 105.41D. 75.35E. 107.11

 

 

109. Corona Company’s balance sheet accounts follow:

At December 31

2014

2013

2012

Assets

 

 

 

Cash

$25,868

$31,163

$31,182

Accounts receivable, net

78,034

53,995

41,152

Merchandise inventory

95,120

73,491

46,095

Prepaid expenses

8,330

8,099

3,429

Plant assets, net

241,854

218,932

199,542

Total assets

$449,206

$385,680

$321,400

Liabilities and Equity

 

 

 

Accounts payable

$108,058

$67,135

$42,849

Long-term notes payable secured by mortgages   on plant assets

85,791

87,819

71,029

Common stock, $10 par value

162,500

162,500

162,500

Retained earnings

92,857

68,226

45,022

Total liabilities and equity

$449,206

$385,680

$321,400

What is Corona Company’s current ratio for 2014?

A. 1.96B. 2.32C. 1.07D. 1.92E. 2.17

 

 

 

 

 

 

110. 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 return on common stockholders’ equity ratio for 2013?

A. 27.5%B. 25.4%C. 12.6%D. 29.4%E. 19.5%

 

 

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