ECONOMICS

Year 2Year 1 Cash$37,800 $32,550 Short-term investments 93,000  61,500 Accounts receivable, net 87,000  81,000 Merchandise inventory 122,500  126,500 Prepaid expenses 12,400  10,000 Plant assets 389,500  339,500 Accounts payable 111,900  109,300 Net sales 712,500  677,500 Cost of goods sold 391,500  376,500

12, Use the following selected information from Wheeler, LLC to determine the 2017 and 2016 common size percentages for operating expenses using Net sales as the base.
2017 2016 Net sales$407,400 $333,800 Cost of goods sold 187,900  132,710 Operating expenses 68,440  65,960 Net earnings 34,540  24,540

13. A company reports basic earnings per share of $3.80, cash dividends per share of $1.40, and a market price per share of $64.90. The company’s dividend yield equals:

14.   Jones Corp. reported current assets of $202,500 and current liabilities of $144,500 on its most recent balance sheet. The current assets consisted of $59,800 Cash; $40,300 Accounts Receivable; and $102,400 of Inventory. The acid-test (quick) ratio is:

15. A corporation reported cash of $14,900 and total assets of $179,200 on its balance sheet. Its common-size percent for cash equals:

16. Selected current year company information follows:
Net income$17,753 Net sales 730,855 Total liabilities, beginning-year 101,932 Total liabilities, end-of-year 121,201 Total stockholders’ equity, beginning-year 216,935 Total stockholders’ equity, end-of-year 148,851
The return on total assets is (Do not round intermediate calculations.):

17. A corporation reports the following year-end balance sheet data. The company’s current ratio equals:
Cash$49,000 Current liabilities$84,000 Accounts receivable 64,000 Long-term liabilities 20,000 Inventory 69,000 Common stock 109,000 Equipment 154,000 Retained earnings 123,000 Total assets$336,000 Total liabilities and equity$336,000

18. Refer to the following selected financial information from McCormik, LLC. Compute the company’s acid-test ratio for Year 2.
Year 2Year 1 Cash$39,400 $34,150 Short-term investments 109,000  69,500 Accounts receivable, net 95,000  89,000 Merchandise inventory 130,500  134,500 Prepaid expenses 14,000  11,600 Plant assets 397,500  347,500 Accounts payable 103,900  117,300 Net sales 720,500  685,500 Cost of goods sold 399,500  384,500

19. Carducci Corporation reported Net sales of $3.55 million and beginning Total assets of $0.95 million and ending Total assets of $1.35 million. The average Total asset amount is:

20. Jones Corp. reported current assets of $185,000 and current liabilities of $133,000 on its most recent balance sheet. The working capital is:

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