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Settles Corporation has provided the following financial data: Settles Corporation has provided the following financial data: Dividends on common stock during Year 2 totaled $5,400. The market price of common stock at the end of Year 2 was $5.89 per share. -The company's price-earnings ratio for Year 2 is closest to: A) 19.00 B) 12.53 C) 7.46 D) 1.52 Settles Corporation has provided the following financial data: Dividends on common stock during Year 2 totaled $5,400. The market price of common stock at the end of Year 2 was $5.89 per share. -The company's price-earnings ratio for Year 2 is closest to: A) 19.00 B) 12.53 C) 7.46 D) 1.52 Dividends on common stock during Year 2 totaled $5,400. The market price of common stock at the end of Year 2 was $5.89 per share. -The company's price-earnings ratio for Year 2 is closest to:


A) 19.00
B) 12.53
C) 7.46
D) 1.52

E) A) and C)
F) B) and C)

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All other things the same,purchasing inventory would decrease the inventory turnover ratio.

A) True
B) False

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Symons Corporation has provided the following financial data: Symons Corporation has provided the following financial data: Dividends on common stock during Year 2 totaled $2,500. The market price of common stock at the end of Year 2 was $2.01 per share. -The company's book value per share at the end of Year 2 is closest to: A) $17.94 per share B) $28.26 per share C) $0.19 per share D) $11.54 per share Symons Corporation has provided the following financial data: Dividends on common stock during Year 2 totaled $2,500. The market price of common stock at the end of Year 2 was $2.01 per share. -The company's book value per share at the end of Year 2 is closest to: A) $17.94 per share B) $28.26 per share C) $0.19 per share D) $11.54 per share Dividends on common stock during Year 2 totaled $2,500. The market price of common stock at the end of Year 2 was $2.01 per share. -The company's book value per share at the end of Year 2 is closest to:


A) $17.94 per share
B) $28.26 per share
C) $0.19 per share
D) $11.54 per share

E) A) and C)
F) None of the above

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Burdick Corporation has provided the following financial data from its balance sheet:  Year 2  Year 1  Accounts receivable, net$266,000$250,000 Inventory $162,000$190,000Total assets $1,415,000$1,390,000Total stockholders’ equity $991,000$970,000\begin{array}{lrr}&\text { Year 2 } & \text { Year 1 } \\\text { Accounts receivable, net}&\$ 266,000 & \$ 250,000 \\\text { Inventory }&\$ 162,000 & \$ 190,000 \\\text {Total assets }&\$ 1,415,000 & \$ 1,390,000 \\\text {Total stockholders' equity }&\$ 991,000 & \$ 970,000\end{array} Sales (all on account) in Year 2 amounted to $1,410,000 and the cost of goods sold was $860,000. -The company's operating cycle for Year 2 is closest to:


A) 10.4 days
B) 79.5 days
C) 141.3 days
D) 72.2 days

E) B) and C)
F) None of the above

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Freiman Corporation's most recent balance sheet and income statement appear below: Freiman Corporation's most recent balance sheet and income statement appear below: Income Statement For the Year Ended December 31, Year 2 (in thousands of dollars) \begin{array}{lr} \text { Sales (all on account) }&\$ 1,310 \\ \text {Cost of goods sold. }&780 \\ \text {Gross margin. }&530 \\ \text {Selling and administrative expense }&359 \\ \text {Net operating income }&171 \\ \text {Interest expense }& 35 \\ \text {Net income before taxes }&136 \\ \text { income taxes (30\%) }& 41 \\ \text {Net income }& 95 \end{array} -The acid-test (quick) ratio at the end of Year 2 is closest to: A) 0.96 B) 1.36 C) 1.50 D) 1.93 Income Statement For the Year Ended December 31, Year 2 (in thousands of dollars)  Sales (all on account) $1,310Cost of goods sold. 780Gross margin. 530Selling and administrative expense 359Net operating income 171Interest expense 35Net income before taxes 136 income taxes (30%) 41Net income 95\begin{array}{lr}\text { Sales (all on account) }&\$ 1,310 \\\text {Cost of goods sold. }&780 \\\text {Gross margin. }&530 \\\text {Selling and administrative expense }&359 \\\text {Net operating income }&171 \\\text {Interest expense }& 35 \\\text {Net income before taxes }&136 \\\text { income taxes (30\%) }& 41 \\\text {Net income }& 95\end{array} -The acid-test (quick) ratio at the end of Year 2 is closest to:


A) 0.96
B) 1.36
C) 1.50
D) 1.93

E) B) and D)
F) All of the above

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Dratif Corporation's working capital is $33,000 and its current liabilities are $80,000.The corporation's current ratio is closest to:


A) 1.41
B) 0.59
C) 3.42
D) 0.41

E) A) and B)
F) All of the above

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Neef Corporation has provided the following financial data from its balance sheet and income statement: Neef Corporation has provided the following financial data from its balance sheet and income statement: -The company's gross margin percentage for Year 2 is closest to: A) 59.6% B) 2.5% C) 37.3% D) 4076.9% Neef Corporation has provided the following financial data from its balance sheet and income statement: -The company's gross margin percentage for Year 2 is closest to: A) 59.6% B) 2.5% C) 37.3% D) 4076.9% -The company's gross margin percentage for Year 2 is closest to:


A) 59.6%
B) 2.5%
C) 37.3%
D) 4076.9%

E) A) and B)
F) None of the above

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Liquidity refers to how quickly an asset can be converted into cash.

A) True
B) False

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Settles Corporation has provided the following financial data: Settles Corporation has provided the following financial data: Dividends on common stock during Year 2 totaled $5,400. The market price of common stock at the end of Year 2 was $5.89 per share. -The company's dividend yield ratio is closest to: A) 1.7% B) 17.1% C) 1.3% D) 26.3% Settles Corporation has provided the following financial data: Dividends on common stock during Year 2 totaled $5,400. The market price of common stock at the end of Year 2 was $5.89 per share. -The company's dividend yield ratio is closest to: A) 1.7% B) 17.1% C) 1.3% D) 26.3% Dividends on common stock during Year 2 totaled $5,400. The market price of common stock at the end of Year 2 was $5.89 per share. -The company's dividend yield ratio is closest to:


A) 1.7%
B) 17.1%
C) 1.3%
D) 26.3%

E) All of the above
F) B) and C)

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Guttery Corporation has provided the following financial data from its balance sheet: Guttery Corporation has provided the following financial data from its balance sheet: Sales on account in Year 2 totaled $1,450,000 and cost of goods sold totaled $900,000. -The company's accounts receivable turnover for Year 2 is closest to: A) 12.95 B) 1.02 C) 0.98 D) 13.06 Sales on account in Year 2 totaled $1,450,000 and cost of goods sold totaled $900,000. -The company's accounts receivable turnover for Year 2 is closest to:


A) 12.95
B) 1.02
C) 0.98
D) 13.06

E) None of the above
F) All of the above

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If current assets exceed current liabilities,prepaying an expense on the last day of the year will:


A) decrease the current ratio.
B) increase the acid-test ratio.
C) decrease the acid-test ratio.
D) increase the current ratio.

E) B) and D)
F) A) and B)

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Remley Corporation has provided the following financial data: Remley Corporation has provided the following financial data: Dividends on common stock during Year 2 totaled $3,000.The market price of common stock at the end of Year 2 was $2.70 per share. Required: a.What is the company's times interest earned ratio for Year 2? b.What is the company's debt-to-equity ratio at the end of Year 2? c.What is the company's equity multiplier at the end of Year 2? d.What is the company's earnings per share for Year 2? e.What is the company's price-earnings ratio for Year 2? f.What is the company's dividend payout ratio for Year 2? g.What is the company's dividend yield ratio for Year 2? h.What is the company's book value per share at the end of Year 2? Remley Corporation has provided the following financial data: Dividends on common stock during Year 2 totaled $3,000.The market price of common stock at the end of Year 2 was $2.70 per share. Required: a.What is the company's times interest earned ratio for Year 2? b.What is the company's debt-to-equity ratio at the end of Year 2? c.What is the company's equity multiplier at the end of Year 2? d.What is the company's earnings per share for Year 2? e.What is the company's price-earnings ratio for Year 2? f.What is the company's dividend payout ratio for Year 2? g.What is the company's dividend yield ratio for Year 2? h.What is the company's book value per share at the end of Year 2? Dividends on common stock during Year 2 totaled $3,000.The market price of common stock at the end of Year 2 was $2.70 per share. Required: a.What is the company's times interest earned ratio for Year 2? b.What is the company's debt-to-equity ratio at the end of Year 2? c.What is the company's equity multiplier at the end of Year 2? d.What is the company's earnings per share for Year 2? e.What is the company's price-earnings ratio for Year 2? f.What is the company's dividend payout ratio for Year 2? g.What is the company's dividend yield ratio for Year 2? h.What is the company's book value per share at the end of Year 2?

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a.Times interest earned = Earnings befor...

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Excerpts from Candle Corporation's most recent balance sheet (in thousands of dollars)appear below: Excerpts from Candle Corporation's most recent balance sheet (in thousands of dollars)appear below: Sales on account during the year totaled $1,200 thousand.Cost of goods sold was $800 thousand. Required: Compute the following for Year 2: a.Working capital. b.Current ratio. c.Acid-test (quick)ratio. d.Accounts receivable turnover. e.Average collection period. f.Inventory turnover. g.Average sale period. Sales on account during the year totaled $1,200 thousand.Cost of goods sold was $800 thousand. Required: Compute the following for Year 2: a.Working capital. b.Current ratio. c.Acid-test (quick)ratio. d.Accounts receivable turnover. e.Average collection period. f.Inventory turnover. g.Average sale period.

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a.Working capital = Current assets - Cur...

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Excerpts from Sydner Corporation's most recent balance sheet appear below: Excerpts from Sydner Corporation's most recent balance sheet appear below: Sales on account in Year 2 amounted to $1,390 and the cost of goods sold was $900. -The accounts receivable turnover for Year 2 is closest to: A) 6.62 B) 1.10 C) 6.32 D) 0.91 Sales on account in Year 2 amounted to $1,390 and the cost of goods sold was $900. -The accounts receivable turnover for Year 2 is closest to:


A) 6.62
B) 1.10
C) 6.32
D) 0.91

E) B) and D)
F) None of the above

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Freiman Corporation's most recent balance sheet and income statement appear below: Freiman Corporation's most recent balance sheet and income statement appear below: Income Statement For the Year Ended December 31, Year 2 (in thousands of dollars) \begin{array}{lr} \text { Sales (all on account) }&\$ 1,310 \\ \text {Cost of goods sold. }&780 \\ \text {Gross margin. }&530 \\ \text {Selling and administrative expense }&359 \\ \text {Net operating income }&171 \\ \text {Interest expense }& 35 \\ \text {Net income before taxes }&136 \\ \text { income taxes (30\%) }& 41 \\ \text {Net income }& 95 \end{array} -The current ratio at the end of Year 2 is closest to: A) 0.45 B) 1.93 C) 0.44 D) 1.04 Income Statement For the Year Ended December 31, Year 2 (in thousands of dollars)  Sales (all on account) $1,310Cost of goods sold. 780Gross margin. 530Selling and administrative expense 359Net operating income 171Interest expense 35Net income before taxes 136 income taxes (30%) 41Net income 95\begin{array}{lr}\text { Sales (all on account) }&\$ 1,310 \\\text {Cost of goods sold. }&780 \\\text {Gross margin. }&530 \\\text {Selling and administrative expense }&359 \\\text {Net operating income }&171 \\\text {Interest expense }& 35 \\\text {Net income before taxes }&136 \\\text { income taxes (30\%) }& 41 \\\text {Net income }& 95\end{array} -The current ratio at the end of Year 2 is closest to:


A) 0.45
B) 1.93
C) 0.44
D) 1.04

E) A) and D)
F) None of the above

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Freiman Corporation's most recent balance sheet and income statement appear below: Freiman Corporation's most recent balance sheet and income statement appear below: Income Statement For the Year Ended December 31, Year 2 (in thousands of dollars) \begin{array}{lr} \text { Sales (all on account) }&\$ 1,310 \\ \text {Cost of goods sold. }&780 \\ \text {Gross margin. }&530 \\ \text {Selling and administrative expense }&359 \\ \text {Net operating income }&171 \\ \text {Interest expense }& 35 \\ \text {Net income before taxes }&136 \\ \text { income taxes (30\%) }& 41 \\ \text {Net income }& 95 \end{array} -The average collection period for Year 2 is closest to: A) 64.0 days B) 0.9 days C) 61.3 days D) 1.1 days Income Statement For the Year Ended December 31, Year 2 (in thousands of dollars)  Sales (all on account) $1,310Cost of goods sold. 780Gross margin. 530Selling and administrative expense 359Net operating income 171Interest expense 35Net income before taxes 136 income taxes (30%) 41Net income 95\begin{array}{lr}\text { Sales (all on account) }&\$ 1,310 \\\text {Cost of goods sold. }&780 \\\text {Gross margin. }&530 \\\text {Selling and administrative expense }&359 \\\text {Net operating income }&171 \\\text {Interest expense }& 35 \\\text {Net income before taxes }&136 \\\text { income taxes (30\%) }& 41 \\\text {Net income }& 95\end{array} -The average collection period for Year 2 is closest to:


A) 64.0 days
B) 0.9 days
C) 61.3 days
D) 1.1 days

E) None of the above
F) All of the above

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Weightman Corporation's net operating income in Year 2 was $76,385,net income before taxes was $55,385,and the net income was $36,000.Total common stock was $200,000 at the end of both Year 2 and Year 1.The par value of common stock is $4 per share.The company's total stockholders' equity at the end of Year 2 amounted to $983,000 and at the end of Year 1 to $950,000.The market price per share at the end of Year 2 was $7.92.The company's price-earnings ratio for Year 2 is closest to:


A) 7.14
B) 0.58
C) 5.18
D) 11.00

E) A) and B)
F) None of the above

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Sehrt Corporation has provided the following financial data: Sehrt Corporation has provided the following financial data: The company's net income for Year 2 was $44,000.Dividends on common stock during Year 2 totaled $11,000.The market price of common stock at the end of Year 2 was $6.29 per share. Required: a.What is the company's earnings per share for Year 2? b.What is the company's price-earnings ratio for Year 2? c.What is the company's dividend payout ratio for Year 2? d.What is the company's dividend yield ratio for Year 2? e.What is the company's book value per share at the end of Year 2? The company's net income for Year 2 was $44,000.Dividends on common stock during Year 2 totaled $11,000.The market price of common stock at the end of Year 2 was $6.29 per share. Required: a.What is the company's earnings per share for Year 2? b.What is the company's price-earnings ratio for Year 2? c.What is the company's dividend payout ratio for Year 2? d.What is the company's dividend yield ratio for Year 2? e.What is the company's book value per share at the end of Year 2?

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a.Earnings per share = Net Income ÷ Aver...

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Purchasing inventory on credit increases the book value per share of a retailer.

A) True
B) False

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Mihok Corporation has provided the following financial data: Mihok Corporation has provided the following financial data: Dividends on common stock during Year 2 totaled $5,000.The market price of common stock at the end of Year 2 was $0.97 per share. Required: a.What is the company's earnings per share for Year 2? b.What is the company's price-earnings ratio for Year 2? c.What is the company's dividend payout ratio for Year 2? d.What is the company's dividend yield ratio for Year 2? e.What is the company's book value per share at the end of Year 2? Mihok Corporation has provided the following financial data: Dividends on common stock during Year 2 totaled $5,000.The market price of common stock at the end of Year 2 was $0.97 per share. Required: a.What is the company's earnings per share for Year 2? b.What is the company's price-earnings ratio for Year 2? c.What is the company's dividend payout ratio for Year 2? d.What is the company's dividend yield ratio for Year 2? e.What is the company's book value per share at the end of Year 2? Dividends on common stock during Year 2 totaled $5,000.The market price of common stock at the end of Year 2 was $0.97 per share. Required: a.What is the company's earnings per share for Year 2? b.What is the company's price-earnings ratio for Year 2? c.What is the company's dividend payout ratio for Year 2? d.What is the company's dividend yield ratio for Year 2? e.What is the company's book value per share at the end of Year 2?

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a.Earnings per share = Net Income ÷ Aver...

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