FINANCE

1.  A corporation reports the following year-end balance sheet data. The company’s working capital equals:
Cash$51,000 Current liabilities$86,000 Accounts receivable 66,000 Long-term liabilities 46,000 Inventory 71,000 Common stock 111,000 Equipment 156,000 Retained earnings 101,000 Total assets$344,000 Total liabilities and equity$344,000

2.  Desjardin Landscaping’s income statement reports net income of $73,500, which includes deductions for interest expense of $10,600 and income taxes of $33,100. Its times interest earned is:

3. A corporation reports the following year-end balance sheet data. The company’s acid-test ratio equals:
Cash$45,000 Current liabilities$80,000 Accounts receivable 60,000 Long-term liabilities 20,000 Inventory 65,000 Common stock 105,000 Equipment 150,000 Retained earnings 115,000 Total assets$320,000 Total liabilities and equity$320,000

4. Refer to the following selected financial information from Shakley’s Incorporated. Compute the company’s times interest earned for Year 2.
Year 2Year 1 Net sales $ 481,500 $ 426,850 Cost of goods sold 276,900 250,720 Interest expense 10,300 11,300 Net income before tax 67,850 53,280 Net income after tax 46,650 40,500 Total assets 318,300 291,600 Total liabilities 178,400 167,900 Total equity 139,900 123,700

5. Use the following selected information from Wheeler, LLC to determine the 2017 and 2016 trend percentages for cost of goods sold using 2016 as the base.
2017 2016 Net sales$276,700 $231,500 Cost of goods sold 151,800  129,690 Operating expenses 55,140  53,140 Net earnings 28,120  19,920

6. A corporation reports the following year-end balance sheet data. The company’s debt ratio equals:
Cash$47,000 Current liabilities$82,000 Accounts receivable 62,000 Long-term liabilities 40,000 Inventory 67,000 Common stock 107,000 Equipment 152,000 Retained earnings 99,000 Total assets$328,000 Total liabilities and equity$328,000

7. Selected current year company information follows:
Net income$16,253 Net sales 715,855 Total liabilities, beginning-year 86,932 Total liabilities, end-of-year 106,201 Total stockholders’ equity, beginning-year 201,935 Total stockholders’ equity, end-of-year 126,351
The total asset turnover is (Do not round intermediate calculations.):

8. Refer to the following selected financial information from McCormik, LLC. Compute the company’s working capital for Year 2.
Year 2Year 1 Cash$39,000 $33,750 Short-term investments 105,000  67,500 Accounts receivable, net 93,000  87,000 Merchandise inventory 128,500  132,500 Prepaid expenses 13,600  11,200 Plant assets 395,500  345,500 Accounts payable 105,900  115,300 Net sales 718,500  683,500 Cost of goods sold 397,500  382,500

9.   Rajan Company’s most recent balance sheet reported total assets of $2.04 million, total liabilities of $0.73 million, and total equity of $1.31 million. Its Debt to equity ratio is:

10.   Martinez Corporation reported Net sales of $772,000 and Net income of $135,000. The Profit margin is:

11. Refer to the following selected financial information from McCormik, LLC. Compute the company’s current ratio for Year 2.
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:

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