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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