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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 earnings per share for Year 2 is closest to: A) $0.53 per share B) $11.54 per share C) $0.19 per share D) $0.27 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 earnings per share for Year 2 is closest to:


A) $0.53 per share
B) $11.54 per share
C) $0.19 per share
D) $0.27 per share

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

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Wittels Corporation has provided the following data: Wittels Corporation has provided the following data: The company's equity multiplier is closest to: A) 1.14 B) 0.53 C) 0.88 D) 1.87 The company's equity multiplier is closest to:


A) 1.14
B) 0.53
C) 0.88
D) 1.87

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

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Excerpts from Colter Corporation's most recent balance sheet appear below: Excerpts from Colter Corporation's most recent balance sheet appear below: Sales on account in Year 2 amounted to $1,210 and the cost of goods sold was $720.The accounts receivable turnover for Year 2 is closest to: A) 1.10 B) 0.91 C) 11.52 D) 12.10 Sales on account in Year 2 amounted to $1,210 and the cost of goods sold was $720.The accounts receivable turnover for Year 2 is closest to:


A) 1.10
B) 0.91
C) 11.52
D) 12.10

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

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Broch Corporation's income statement appears below: Broch Corporation's income statement appears below: The company's times interest earned ratio is closest to: A) 4.87 B) 1.41 C) 3.16 D) 2.16 The company's times interest earned ratio is closest to:


A) 4.87
B) 1.41
C) 3.16
D) 2.16

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

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Nickolls Corporation has provided the following financial data: Nickolls Corporation has provided the following financial data: The company's working capital is: A) $1,235,000 B) $562,000 C) $833,000 D) $809,000 The company's working capital is:


A) $1,235,000
B) $562,000
C) $833,000
D) $809,000

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

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Nickolls Corporation has provided the following financial data: Nickolls Corporation has provided the following financial data: The company's working capital is: A) $1,215,000 B) $542,000 C) $793,000 D) $709,000 The company's working capital is:


A) $1,215,000
B) $542,000
C) $793,000
D) $709,000

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

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Ribaudo Corporation has provided the following financial data from its balance sheet and income statement: Ribaudo Corporation has provided the following financial data from its balance sheet and income statement: The company's average sale period for Year 2 is closest to: (Round your intermediate calculations to 2 decimal places.) A) 91.9 days B) 48.9 days C) 90.1 days D) 198.1 days The company's average sale period for Year 2 is closest to: (Round your intermediate calculations to 2 decimal places.)


A) 91.9 days
B) 48.9 days
C) 90.1 days
D) 198.1 days

E) A) and C)
F) A) and D)

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All other things the same, purchasing merchandise inventory would have no effect on the accounts receivable turnover ratio at a retailer.

A) True
B) False

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The following information relates to Conejo Corporation for last year: The following information relates to Conejo Corporation for last year: What is Conejo's price-earnings ratio for last year? A) 1.6 B) 2.4 C) 8.0 D) 2.0 What is Conejo's price-earnings ratio for last year?


A) 1.6
B) 2.4
C) 8.0
D) 2.0

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

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Data from Dunshee Corporation's most recent balance sheet appear below: Data from Dunshee Corporation's most recent balance sheet appear below: Sales on account in Year 2 amounted to $1,170 and the cost of goods sold was $730.The current ratio at the end of Year 2 is closest to: A) 0.38 B) 2.17 C) 0.94 D) 0.40 Sales on account in Year 2 amounted to $1,170 and the cost of goods sold was $730.The current ratio at the end of Year 2 is closest to:


A) 0.38
B) 2.17
C) 0.94
D) 0.40

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

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The formula for the average sale period is: Average sale period = Accounts receivable turnover ÷ Inventory turnover.

A) True
B) False

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All other things the same, those who hold the company's debt (i.e., its creditors) would like a low debt-to-equity ratio to provide a buffer of protection.

A) True
B) False

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Kearin Corporation has provided the following financial data: Kearin Corporation has provided the following financial data: Dividends on common stock during Year 2 totaled $8,000. The market price of common stock at the end of Year 2 was $2.02 per share.The company's return on equity for Year 2 is closest to: A) 71.44% B) 4.72% C) 2.97% D) 1.93% Dividends on common stock during Year 2 totaled $8,000. The market price of common stock at the end of Year 2 was $2.02 per share.The company's return on equity for Year 2 is closest to:


A) 71.44%
B) 4.72%
C) 2.97%
D) 1.93%

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

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Tempel Corporation has provided the following data: Tempel Corporation has provided the following data: The market price of common stock at the end of Year 2 was $2.77 per share. The company's price-earnings ratio for Year 2 is closest to: (Round your intermediate calculations to 2 decimal places.) A) 9.23 B) 0.35 C) 4.54 D) 13.40 The market price of common stock at the end of Year 2 was $2.77 per share. The company's price-earnings ratio for Year 2 is closest to: (Round your intermediate calculations to 2 decimal places.)


A) 9.23
B) 0.35
C) 4.54
D) 13.40

E) A) and D)
F) A) and C)

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Recher Corporation's common stock has a par value of $3 per share and has been stable at a total value of $270,000 on the company's balance sheet for several years. The total stockholders' equity at the end of this year was $1,023,000 and at the beginning of the year was $1,010,000. Net income for the year was $17,500. Dividends on common stock during the year totaled $4,500. The market price of common stock at the end of the year was $3.76 per share.The company's book value per share at the end of the year is closest to:


A) $11.37 per share
B) $7.37 per share
C) $0.19 per share
D) $16.81 per share

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

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Wegener Corporation's most recent balance sheet and income statement appear below: Wegener Corporation's most recent balance sheet and income statement appear below: 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. 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.

Correct Answer

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

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Which one of the following statements about book value per share is most correct?


A) Market price per common share usually approximates book value per common share.
B) Book value per common share is based on past transactions whereas the market price of a share of stock mainly reflects what investors expect to happen in the future.
C) A market price per common share that is greater than book value per common share is an indication of an overvalued stock.
D) Book value per common share is the amount that would be paid to stockholders if the company were sold to another company.

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

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Macmillan Corporation has provided the following financial data: Macmillan Corporation has provided the following financial data: Dividends on common stock during Year 2 totaled $7,200. The market price of common stock at the end of Year 2 was $3.69 per share.The company's current ratio at the end of Year 2 is closest to: A) 0.83 B) 1.96 C) 0.45 D) 0.37 Dividends on common stock during Year 2 totaled $7,200. The market price of common stock at the end of Year 2 was $3.69 per share.The company's current ratio at the end of Year 2 is closest to:


A) 0.83
B) 1.96
C) 0.45
D) 0.37

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

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The times interest earned ratio of Whitney Corporation is 3.0. The interest expense for the year is $21,000, and the corporation's tax rate is 40%. The corporation's after-tax net income must be:


A) $63,000
B) $25,200
C) $30,000
D) $42,000

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

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Data from Dunshee Corporation's most recent balance sheet appear below: Data from Dunshee Corporation's most recent balance sheet appear below: Sales on account in Year 2 amounted to $1,595 and the cost of goods sold was $985.The working capital at the end of Year 2 is: A) $321 B) $619 C) $1,008 D) $893 Sales on account in Year 2 amounted to $1,595 and the cost of goods sold was $985.The working capital at the end of Year 2 is:


A) $321
B) $619
C) $1,008
D) $893

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

Correct Answer

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