15 May QuestionThere are 31 questions in the file attached
Question
There are 31 questions in the file attached
1.
award:
1.61 out of
1.61 points
Ozols Corporation’s most recent income statement appears below:
| Sales (all on account) | $713,000 |
| Cost of goods sold | 305,000 |
| Gross margin | 408,000 |
| Selling and administrative expense | 175,000 |
| Net operating income | 233,000 |
| Interest expense | 64,000 |
| Net Income before taxes | 169,000 |
| Income taxes | 60,000 |
| Net income | $109,000 |
The gross margin percentage is closest to:
2.
award:
1.61 out of
1.61 points
Crandler Company’s net income last year was $65,000. The company paid preferred dividends of $22,500 and its average common stockholders’ equity was $500,000. The company’s return on common stockholders’ equity for the year was closest to:
3.
award:
0 out of
1.61 points
The average stockholders’ equity for Horn Co. last year was $2,800,000. Included in this figure was $280,000 of preferred stock. Preferred dividends were $32,000. If the return on common stockholders’ equity was 12.5% for the year, net income was:
4.
award:
0 out of
1.61 points
Artist Company’s net income last year was $540,000. The company has 152,000 shares of common stock and 41,900 shares of preferred stock outstanding. There was no change in the number of common or preferred shares outstanding during the year. The company declared and paid dividends last year of $1.80 per share on the common stock and $0.80 per share on the preferred stock. The earnings per share of common stock is closest to:
5.
award:
1.61 out of
1.61 points
Archer Company had net income of $86,800 last year. The company has 6,800 shares of common stock and 4,300 shares of preferred stock outstanding. There was no change in the number of common or preferred shares outstanding during the year. Preferred dividends were $2 per share. The earnings per share of common stock was:
6.
award:
1.61 out of
1.61 points
The following data have been taken from your company’s financial records for the current year:
| Earning per share | $30 |
| Dividend per share | $8 |
| Market price per share | $390 |
| Book value per share | $225 |
The price-earnings ratio is:
7.
award:
0 out of
1.61 points
Last year the return on total assets in Jeffrey Company was 8.00%. The total assets were 3 million at the beginning of the year and 3.25 million at the end of the year. The tax rate was 30%, interest expense totaled $115 thousand, and sales were $5.3 million. Net income for the year was:
9.
award:
0 out of
1.61 points
The following account balances have been provided for the end of the most recent year:
| Total assets | $180,000 |
| Total stockholder’s equity | $150,000 |
| Total common stock (5,000 shares) | $50,000 |
| Total preferred stock (1,000 shares) | $10,000 |
10.
award:
0 out of
1.61 points
Delatrinidad Corporation’s net income last year was $7,748,000. The dividend on common stock was $13.4 per share and the dividend on preferred stock was $3.2 per share. The market price of common stock at the end of the year was $54.5 per share. Throughout the year, 480,000 shares of common stock and 240,000 shares of preferred stock were outstanding. The dividend payout ratio is closest to:
11.
award:
1.61 out of
1.61 points
Last year, Shadow Corporation’s dividend on common stock was $21.75 per share and the dividend on preferred stock was $20.86 per share. The market price of common stock at the end of the year was $75.00 per share. The dividend yield ratio is closest to:
12.
award:
1.61 out of
1.61 points
Hagerman Corporation’s most recent income statement appears below:
| Sales (all on account) | $625,000 |
| Cost of goods sold | 375,000 |
| Gross margin | 250,000 |
| Selling and administrative expense | 125,000 |
| Net operating income | 125,000 |
| Interest expense | 31,250 |
| Net income before taxes | 93,750 |
| Income taxes (30%) | 28,125 |
| Net income | $65,625 |
The beginning balance of total assets was $330,000 and the ending balance was $204,000. The return on total assets is closest to:
13.
award:
0 out of
1.61 points
Excerpts from Lasso Corporation’s most recent balance sheet appear below:
| Year 2 | Year 1 | |
| Preferred stock | $280,000 | $280,000 |
| Common stock | 760,000 | 760,000 |
| Additional paid-in capital–common stock | 286,000 | 286,000 |
| Retained earnings | 760,000 | 690,000 |
| Total stockholder’s equity | $1,186,000 | $1,116,000 |
Net income for Year 2 was $181,000. Dividends on common stock were $73,000 in total and dividends on preferred stock were $38,000 in total. The return on common stockholders’ equity for Year 2 is closest to:
14.
award:
0 out of
1.61 points
Drama Company’s working capital is $136,000 and its current liabilities are $214,000. The company’s current ratio is closest to:
15.
award:
1.61 out of
1.61 points
Brewster Company has an acid-test ratio of 1.5 and a current ratio of 2.5. Current assets equal $440,000, of which $12,400 is prepaid expenses. The company’s current assets consist of cash, marketable securities, accounts receivable, prepaid expenses, and inventory. Brewster Company’s inventory must be:
6.
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