Question : 151. Use the following information for questions 64-70.The following information pertains : 1246684

 

151. Use the following information for questions 64-70.The following information pertains to Carlton Company. Assume that all balance sheet amounts represent both average and ending balance figures.  Assume that all sales were on credit.Assets

Cash and short-term investments

 

$  40,000

Accounts receivable (net)

 

25,000

Inventory

 

20,000

Property, plant and equipment

 

  210,000

 

Total Assets

$295,000

 

 

 

 

Liabilities and Stockholders’ Equity

Current liabilities

 

60,000

Long-term liabilities

 

85,000

Stockholders’ equity-common

 

  150,000

 

Total Liabilities and stockholders’ equity

$295,000

 

 

 

 

Income Statement

Sales

 

$ 85,000

Cost of goods sold

 

   45,000

Gross margin

 

40,000

Operating expenses

 

   20,000

 

Net income

$ 20,000

 

 

 

 

 

Number of shares of common stock

 

6,000000

Market price of common stock

 

$20

Dividends per share

 

0.90

Cash provided by operations

 

$30,000

 

 

 

What is the inventory turnover for this company?  Round your answer to one decimal point. A. 0.44 timesB. 2.25 timesC. 2.00 timesD. 1.00 times

 

152. Use the following information for questions 64-70.The following information pertains to Carlton Company. Assume that all balance sheet amounts represent both average and ending balance figures.  Assume that all sales were on credit.Assets

Cash and short-term investments

 

$  40,000

Accounts receivable (net)

 

25,000

Inventory

 

20,000

Property, plant and equipment

 

  210,000

 

Total Assets

$295,000

 

 

 

 

Liabilities and Stockholders’ Equity

Current liabilities

 

60,000

Long-term liabilities

 

85,000

Stockholders’ equity-common

 

  150,000

 

Total Liabilities and stockholders’ equity

$295,000

 

 

 

 

Income Statement

Sales

 

$ 85,000

Cost of goods sold

 

   45,000

Gross margin

 

40,000

Operating expenses

 

   20,000

 

Net income

$ 20,000

 

 

 

 

 

Number of shares of common stock

 

6,000000

Market price of common stock

 

$20

Dividends per share

 

0.90

Cash provided by operations

 

$30,000

 

 

 

What is the return on assets for this company?  Round your answer to one decimal point. A. 11.5%B. 10.5%C. 26.7%D. 6.8%

 

153. Use the following information for questions 64-70.The following information pertains to Carlton Company. Assume that all balance sheet amounts represent both average and ending balance figures.  Assume that all sales were on credit.Assets

Cash and short-term investments

 

$  40,000

Accounts receivable (net)

 

25,000

Inventory

 

20,000

Property, plant and equipment

 

  210,000

 

Total Assets

$295,000

 

 

 

 

Liabilities and Stockholders’ Equity

Current liabilities

 

60,000

Long-term liabilities

 

85,000

Stockholders’ equity-common

 

  150,000

 

Total Liabilities and stockholders’ equity

$295,000

 

 

 

 

Income Statement

Sales

 

$ 85,000

Cost of goods sold

 

   45,000

Gross margin

 

40,000

Operating expenses

 

   20,000

 

Net income

$ 20,000

 

 

 

 

 

Number of shares of common stock

 

6,000000

Market price of common stock

 

$20

Dividends per share

 

0.90

Cash provided by operations

 

$30,000

 

 

 

What is the profit margin for this company?  Round your answer to one decimal point. A. 23.5%B. 18.75%C. 42.86%D. 15.0%

 

154. Use the following information for questions 64-70.The following information pertains to Carlton Company. Assume that all balance sheet amounts represent both average and ending balance figures.  Assume that all sales were on credit.Assets

Cash and short-term investments

 

$  40,000

Accounts receivable (net)

 

25,000

Inventory

 

20,000

Property, plant and equipment

 

  210,000

 

Total Assets

$295,000

 

 

 

 

Liabilities and Stockholders’ Equity

Current liabilities

 

60,000

Long-term liabilities

 

85,000

Stockholders’ equity-common

 

  150,000

 

Total Liabilities and stockholders’ equity

$295,000

 

 

 

 

Income Statement

Sales

 

$ 85,000

Cost of goods sold

 

   45,000

Gross margin

 

40,000

Operating expenses

 

   20,000

 

Net income

$ 20,000

 

 

 

 

 

Number of shares of common stock

 

6,000000

Market price of common stock

 

$20

Dividends per share

 

0.90

Cash provided by operations

 

$30,000

 

 

 

What is the return on common stockholders’ equity for this company?   Round your answer to one decimal point. A. 5.0%B. 13.3%C. 53.3%D. 23.3%

 

155. Use the following information for questions 64-70.The following information pertains to Carlton Company. Assume that all balance sheet amounts represent both average and ending balance figures.  Assume that all sales were on credit.Assets

Cash and short-term investments

 

$  40,000

Accounts receivable (net)

 

25,000

Inventory

 

20,000

Property, plant and equipment

 

  210,000

 

Total Assets

$295,000

 

 

 

 

Liabilities and Stockholders’ Equity

Current liabilities

 

60,000

Long-term liabilities

 

85,000

Stockholders’ equity-common

 

  150,000

 

Total Liabilities and stockholders’ equity

$295,000

 

 

 

 

Income Statement

Sales

 

$ 85,000

Cost of goods sold

 

   45,000

Gross margin

 

40,000

Operating expenses

 

   20,000

 

Net income

$ 20,000

 

 

 

 

 

Number of shares of common stock

 

6,000000

Market price of common stock

 

$20

Dividends per share

 

0.90

Cash provided by operations

 

$30,000

 

 

 

What is the price earnings ratio for this company?  Round your answer to one decimal point. A. 8.0 timesB. 2.5 timesC. 4.0 timesD. 6.0 times

 

156. The following information pertains to Raleigh Company. Assume that all balance sheet amounts represent both average and ending balance figures.  Assume that all sales were on credit.Assets

Cash and short-term investments

 

$  40,000

Accounts receivable (net)

 

30,000

Inventory

 

25,000

Property, plant and equipment

 

  215,000

 

Total Assets

$310,000

 

 

 

 

Liabilities and Stockholders’ Equity

Current liabilities

 

60,000

Long-term liabilities

 

95,000

Stockholders’ equity-common

 

  155,000

 

Total Liabilities and stockholders’ equity

$310,000

 

 

 

 

Income Statement

Sales

 

$ 90,000

Cost of goods sold

 

   45,000

Gross margin

 

45,000

Operating expenses

 

   20,000

 

Net income

$ 25,000

 

 

 

 

 

Number of shares of common stock

 

6,000000

Market price of common stock

 

$40

Dividends per share

 

1.00

Cash provided by operations

 

$40,000

 

 

 

What is the rate earned on total assets for this company? A. 8.1%B. 6.8%C. 10.5%D. 16.1%

 

157. The following information pertains to Raleigh Company. Assume that all balance sheet amounts represent both average and ending balance figures.  Assume that all sales were on credit.Assets

Cash and short-term investments

 

$  40,000

Accounts receivable (net)

 

30,000

Inventory

 

25,000

Property, plant and equipment

 

  215,000

 

Total Assets

$310,000

 

 

 

 

Liabilities and Stockholders’ Equity

Current liabilities

 

60,000

Long-term liabilities

 

95,000

Stockholders’ equity-common

 

  155,000

 

Total Liabilities and stockholders’ equity

$310,000

 

 

 

 

Income Statement

Sales

 

$ 90,000

Cost of goods sold

 

   45,000

Gross margin

 

45,000

Operating expenses

 

   20,000

 

Net income

$ 25,000

 

 

 

 

 

Number of shares of common stock

 

6,000000

Market price of common stock

 

$40

Dividends per share

 

1.00

Cash provided by operations

 

$40,000

 

 

 

What is the price earnings ratio for this company? A. 6.0 timesB. 4.2 timesC. 8.0 timesD. 9.6 times

 

158. The following information pertains to Raleigh Company. Assume that all balance sheet amounts represent both average and ending balance figures.  Assume that all sales were on credit.Assets

Cash and short-term investments

 

$  40,000

Accounts receivable (net)

 

30,000

Inventory

 

25,000

Property, plant and equipment

 

  215,000

 

Total Assets

$310,000

 

 

 

 

Liabilities and Stockholders’ Equity

Current liabilities

 

60,000

Long-term liabilities

 

95,000

Stockholders’ equity-common

 

  155,000

 

Total Liabilities and stockholders’ equity

$310,000

 

 

 

 

Income Statement

Sales

 

$ 130,000

Cost of goods sold

 

   45,000

Gross margin

 

95,000

Operating expenses

 

   20,000

 

Net income

$ 75,000

 

 

 

 

 

Number of shares of common stock

 

8,000000

Market price of common stock

 

$20

Dividends per share

 

1.00

Cash provided by operations

 

$40,000

 

 

 

What is the earnings per share on common stock? A. $9.38B. $8.38C. $1.00D. $5.00

 

159. Percentage analyses, ratios, turnovers, and other measures of financial position and operating results are A. a substitute for sound judgment.B. useful analytical measures.C. enough information for analysis, industry information is not needed.D. unnecessary for analysis, but reaction is better.

 

160. The following information pertains to Raleigh Company. Assume that all balance sheet amounts represent both average and ending balance figures.  Assume that all sales were on credit.Assets

Cash and short-term investments

 

$  40,000

Accounts receivable (net)

 

30,000

Inventory

 

25,000

Property, plant and equipment

 

  280,000

 

Total Assets

$375,000

 

 

 

 

Liabilities and Stockholders’ Equity

Current liabilities

 

60,000

Long-term liabilities

 

95,000

Stockholders’ equity-common

 

  220,000

 

Total Liabilities and stockholders’ equity

$375,000

 

 

 

 

Income Statement

Sales

 

$ 90,000

Cost of goods sold

 

   45,000

Gross margin

 

45,000

Operating expenses

 

   10,000

 

Net income

$ 35,000

 

 

 

 

 

Number of shares of common stock

 

6,000000

Market price of common stock

 

$20

Dividends per share

 

1.00

Cash provided by operations

 

$40,000

 

 

 

What is the rate earned on stockholders’ equity? Round answer to a single decimal point. A. 9.3%B. 15.9%C. 24.0%D. 40.9%

 

 

 

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