Deck 3: Analyzing Financial Statements
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ملء الشاشة (f)
Deck 3: Analyzing Financial Statements
1
Which of the following refers to the amount of debt versus equity a firm has on its balance sheet?
A)Capital coverage
B)Capital structure
C)Debt structure
D)Financial structure
A)Capital coverage
B)Capital structure
C)Debt structure
D)Financial structure
Capital structure
2
Which ratio measures a firm's ability to pay short-term obligations with its available cash and market securities?
A)Cash
B)Current
C)Internal-growth
D)Quick or acid test
A)Cash
B)Current
C)Internal-growth
D)Quick or acid test
Cash
3
Which of the following ratios measure how efficiently a firm uses its assets, as well as how efficiently the firm manages its accounts payable?
A)Asset management
B)Cash
C)Internal-growth
D)Quick or acid test
A)Asset management
B)Cash
C)Internal-growth
D)Quick or acid test
Asset management
4
Which type of ratio measures the dollars of current assets available to pay each dollar of current liabilities?
A)Cross-section
B)Current
C)Internal-growth
D)Quick or acid test
A)Cross-section
B)Current
C)Internal-growth
D)Quick or acid test
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5
Which of these is NOT considered a coverage ratio?
A)Cash coverage ratio
B)Current ratio
C)Fixed-charge coverage ratio
D)Times interest earned
A)Cash coverage ratio
B)Current ratio
C)Fixed-charge coverage ratio
D)Times interest earned
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6
Which of these statements is true?
A)The age of a firm's cash will affect the current ratio level.
B)The age of a firm's accounts receivable will affect the current ratio level.
C)The age of a firm's fixed assets will affect the fixed asset turnover ratio level.
D)The age of a firm's fixed assets will affect the current ratio level.
A)The age of a firm's cash will affect the current ratio level.
B)The age of a firm's accounts receivable will affect the current ratio level.
C)The age of a firm's fixed assets will affect the fixed asset turnover ratio level.
D)The age of a firm's fixed assets will affect the current ratio level.
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7
Which of the following refer to ratios that measure the relationship between a firm's liquid (or current) assets and its current liabilities?
A)Cross-section
B)Internal growth
C)Liquidity
D)Market value
A)Cross-section
B)Internal growth
C)Liquidity
D)Market value
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8
Which of these statements is true?
A)A low inventory turnover ratio or a low days' sales in inventory is a sign of good inventory management.
B)A high inventory turnover ratio or a low days' sales in inventory is a sign of good inventory management.
C)A low inventory turnover ratio or a high days' sales in inventory is a sign of good inventory management.
D)A high inventory turnover ratio or a high days' sales in inventory is a sign of good inventory management.
A)A low inventory turnover ratio or a low days' sales in inventory is a sign of good inventory management.
B)A high inventory turnover ratio or a low days' sales in inventory is a sign of good inventory management.
C)A low inventory turnover ratio or a high days' sales in inventory is a sign of good inventory management.
D)A high inventory turnover ratio or a high days' sales in inventory is a sign of good inventory management.
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9
Which statement is true?
A)The less liquid assets a firm holds, the less likely it is that the firm will experience financial distress.
B)The lower the liquidity ratios, the less liquidity risk a firm has.
C)Liquid assets generate profits for the firm.
D)Extremely high levels of liquidity guard against liquidity crises, but at the cost of lower returns on assets.
A)The less liquid assets a firm holds, the less likely it is that the firm will experience financial distress.
B)The lower the liquidity ratios, the less liquidity risk a firm has.
C)Liquid assets generate profits for the firm.
D)Extremely high levels of liquidity guard against liquidity crises, but at the cost of lower returns on assets.
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10
Which of the following measures the number of days accounts receivable are held before the firm collects cash from the sale?
A)Accounts receivable turnover
B)Average collection period
C)Average payment period
D)Accounts payable turnover
A)Accounts receivable turnover
B)Average collection period
C)Average payment period
D)Accounts payable turnover
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11
Which of the following measures the number of days that the firm holds accounts payable before it has to extend cash to buy raw materials?
A)Accounts receivable turnover
B)Average collection period
C)Average payment period
D)Accounts payable turnover
A)Accounts receivable turnover
B)Average collection period
C)Average payment period
D)Accounts payable turnover
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12
Which type of ratio measures a firm's ability to pay off short-term obligations without relying on inventory sales?
A)Cash
B)Current
C)Internal-growth
D)Quick or acid test
A)Cash
B)Current
C)Internal-growth
D)Quick or acid test
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13
Which of the following measures the number of dollars of sales produced per dollar of fixed assets?
A)Fixed asset to working capital ratio
B)Fixed asset turnover ratio
C)Fixed asset management ratio
D)Sales to working capital ratio
A)Fixed asset to working capital ratio
B)Fixed asset turnover ratio
C)Fixed asset management ratio
D)Sales to working capital ratio
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14
Which ratio measures the number of dollars of sales produced per dollar of inventory?
A)Asset management
B)Cash
C)Internal-growth
D)Inventory turnover
A)Asset management
B)Cash
C)Internal-growth
D)Inventory turnover
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15
Which of these ratios show the combined effects of liquidity, asset management, and debt management on the overall operation results of the firm?
A)Liquidity
B)Coverage
C)Financial
D)Profitability
A)Liquidity
B)Coverage
C)Financial
D)Profitability
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16
Which ratio measures the percentage of total assets financed by debt?
A)Debt
B)Debt-to-equity
C)Equity multiplier
D)Liquidity
A)Debt
B)Debt-to-equity
C)Equity multiplier
D)Liquidity
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17
For publicly traded firms, which of these ratios measure what investors think of the company's future performance and risk?
A)Liquidity ratios
B)Market value ratios
C)Price value ratios
D)Profitability ratios
A)Liquidity ratios
B)Market value ratios
C)Price value ratios
D)Profitability ratios
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18
Which of these statements is true?
A)In general, the lower the total asset turnover and the lower the capital intensity ratio, the more efficient the overall asset management of the firm will be.
B)In general, the lower the total asset turnover and the higher the capital intensity ratio, the more efficient the overall asset management of the firm will be.
C)In general, the higher the total asset turnover and the lower the capital intensity ratio, the more efficient the overall asset management of the firm will be.
D)In general, the higher the total asset turnover and the higher the capital intensity ratio, the more efficient the overall asset management of the firm will be.
A)In general, the lower the total asset turnover and the lower the capital intensity ratio, the more efficient the overall asset management of the firm will be.
B)In general, the lower the total asset turnover and the higher the capital intensity ratio, the more efficient the overall asset management of the firm will be.
C)In general, the higher the total asset turnover and the lower the capital intensity ratio, the more efficient the overall asset management of the firm will be.
D)In general, the higher the total asset turnover and the higher the capital intensity ratio, the more efficient the overall asset management of the firm will be.
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19
Which of the following measures the operating return on the firm's assets, irrespective of financial leverage and taxes?
A)Basic earnings power ratio
B)Profit margin
C)Return on assets
D)Return on equity
A)Basic earnings power ratio
B)Profit margin
C)Return on assets
D)Return on equity
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20
Which of these ratios measure the extent to which the firm uses debt (or financial leverage) versus equity to finance its assets?
A)Debt management ratios
B)Equity ratios
C)Financial ratios
D)Liquidity ratios
A)Debt management ratios
B)Equity ratios
C)Financial ratios
D)Liquidity ratios
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21
Rachets R Us Corp. reported sales for 2013 of $200,000. Rachets R Us listed $25,000 of inventory on its balance sheet. Using a 365-day year, how many days did Rachets R Us's inventory stay on the premises? How many times per year did Rachets R Us's inventory turnover?
A)0.125 days, 8 times, respectively
B)0.125 days, 5 times, respectively
C)45.625 days, 8 times, respectively
D)45.625 days, 5 times respectively
A)0.125 days, 8 times, respectively
B)0.125 days, 5 times, respectively
C)45.625 days, 8 times, respectively
D)45.625 days, 5 times respectively
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22
You are considering a stock investment in one of two firms (LotsofDebt, Inc. and LotsofEquity, Inc.), both of which operate in the same industry. LotsofDebt, Inc. finances its $100 million in assets with $90 million in debt and $10 million in equity. LotsofEquity, Inc. finances its $100 million in assets with $10 million in debt and $90 million in equity. What are the debt ratio, equity multiplier, and debt-to-equity ratio for the two firms?
A)LotsofDebt: 90 percent, 10 times, 9 times, respectively; and LotsofEquity: 10 percent, 1.11 times, 0.1111 times, respectively.
B)LotsofDebt: 10 percent, 1.11 times, 0.1111 times, respectively; and LotsofEquity: 90 percent, 10 times, 9 times, respectively.
C)LotsofDebt: 90 percent, 1.11 times, 0.1111 times, respectively; and LotsofEquity: 10 percent, 10 times, 9 times, respectively.
D)LotsofDebt: 10 percent, 10 times, 9 times, respectively; and LotsofEquity: 90 percent, 1.11 times, 0.1111 times, respectively.
A)LotsofDebt: 90 percent, 10 times, 9 times, respectively; and LotsofEquity: 10 percent, 1.11 times, 0.1111 times, respectively.
B)LotsofDebt: 10 percent, 1.11 times, 0.1111 times, respectively; and LotsofEquity: 90 percent, 10 times, 9 times, respectively.
C)LotsofDebt: 90 percent, 1.11 times, 0.1111 times, respectively; and LotsofEquity: 10 percent, 10 times, 9 times, respectively.
D)LotsofDebt: 10 percent, 10 times, 9 times, respectively; and LotsofEquity: 90 percent, 1.11 times, 0.1111 times, respectively.
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23
Which of the following is the maximum growth rate that can be achieved by financing asset growth with new debt and retained earnings?
A)Internal growth rate
B)Retained earnings growth rate
C)Sustainable growth rate
D)Weighted growth rate
A)Internal growth rate
B)Retained earnings growth rate
C)Sustainable growth rate
D)Weighted growth rate
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24
If Epic, Inc. has an ROE = 25 percent, equity multiplier = 4, a profit margin of 12 percent, what is the total asset turnover ratio?
A)0.0833
B)0.192
C)0.5208
D)0.75
A)0.0833
B)0.192
C)0.5208
D)0.75
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25
If Apex, Inc. has an ROE = 10 percent, equity multiplier = 3, and profit margin of 5 percent, what is the total asset turnover ratio?
A)0.0600
B)0.0667
C)0.1667
D)0.6667
A)0.0600
B)0.0667
C)0.1667
D)0.6667
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26
Trina'sTrikes, Inc. reported a debt-to-equity ratio of 2 times at the end of 2013. If the firm's total debt at year-end was $10 million, how much equity does Trina's Trikes have?
A)$2 million
B)$5 million
C)$10 million
D)$20 million
A)$2 million
B)$5 million
C)$10 million
D)$20 million
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27
CornProducts Corp. ended the year 2013 with an average collection period of 40 days. The firm's credit sales for 2011 were $9 million. What is the approximate year-end 2013 balance in accounts receivable for Corn Products?
A)$225,000
B)$986,300
C)$4,444,400
D)$360,000,000
A)$225,000
B)$986,300
C)$4,444,400
D)$360,000,000
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28
Last year Café Creations, Inc. had an ROA of 25 percent, a profit margin of 12 percent, and sales of $4 million. What is Café Creations' total assets?
A)$0.12m
B)$0.48m
C)$1.00m
D)$1.92m
A)$0.12m
B)$0.48m
C)$1.00m
D)$1.92m
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29
The top part of Mars, Inc.'s 2013 balance sheet is listed as follows (in millions of dollars). What are Mars, Inc.'s current ratio, quick ratio, and cash ratio for 2013?
A)0.1111, 0.5556, 0.2
B)2.3333, 0.5556, 0.1111
C)4.2, 1.0, 0.2
D)10.5, 6.0, 1.0
A)0.1111, 0.5556, 0.2
B)2.3333, 0.5556, 0.1111
C)4.2, 1.0, 0.2
D)10.5, 6.0, 1.0
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30
Tops N Bottoms Corp. reported sales for 2013 of $50 million. Tops N Bottoms listed $4 million of inventory on its balance sheet. Using a 365-day year, how many days did Tops N Bottoms' inventory stay on the premises? How many times per year did Tops N Bottoms' inventory turn over?
A)29.2 days, 12.5 times, respectively
B)12.5 days, 29.2 times, respectively
C)0.08 days, 12.5 times, respectively
D)29.2 days, 0.0345 times, respectively
A)29.2 days, 12.5 times, respectively
B)12.5 days, 29.2 times, respectively
C)0.08 days, 12.5 times, respectively
D)29.2 days, 0.0345 times, respectively
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31
Bree's Tennis Supply's market-to-book ratio is currently 9.4 times and PE ratio is 20 times. If Bree's Tennis Supply's common stock is currently selling at $20.50 per share, what is the book value per share and earnings per share?
A)$1.025, $2.1809, respectively
B)$2.1809, $1.025, respectively
C)$410.00, $192.70, respectively
D)$192.70, $410.00, respectively
A)$1.025, $2.1809, respectively
B)$2.1809, $1.025, respectively
C)$410.00, $192.70, respectively
D)$192.70, $410.00, respectively
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32
Last year Mocha Java, Inc. had an ROA of 10 percent, a profit margin of 5 percent, and sales of $25 million. What is Mocha Java's total assets?
A)$0.125m
B)$1.25m
C)$12.5m
D)$12m
A)$0.125m
B)$1.25m
C)$12.5m
D)$12m
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33
Which is true? Ratio analysis:
A)can provide useful information on a firm's current position but should never be used to forecast future performance.
B)can provide useful information on a firm's current position and hint at future performance.
C)can provide useful information on a firm's past but not current position.
D)can provide useful information on a firm's past and current position, but should never be used to forecast future performance.
A)can provide useful information on a firm's current position but should never be used to forecast future performance.
B)can provide useful information on a firm's current position and hint at future performance.
C)can provide useful information on a firm's past but not current position.
D)can provide useful information on a firm's past and current position, but should never be used to forecast future performance.
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34
Which of these can be used by interested parties to identify changes in corporate performance?
A)Common-size financial statements
B)Industrialized financial statements
C)Sanitized financial statements
D)None of these
A)Common-size financial statements
B)Industrialized financial statements
C)Sanitized financial statements
D)None of these
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35
Tina's Track Supply's market-to-book ratio is currently 4.5 times and PE ratio is 10.5 times. If Tina's Track Supply's common stock is currently selling at $100 per share, what is the book value per share and earnings per share?
A)$9.5238, $22.2222, respectively
B)$450, $1,050, respectively
C)$1,050, $450, respectively
D)$22.2222, $9.5238, respectively
A)$9.5238, $22.2222, respectively
B)$450, $1,050, respectively
C)$1,050, $450, respectively
D)$22.2222, $9.5238, respectively
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36
The top part of Rammy's Inc.'s 2013 balance sheet is listed as follows (in millions of dollars). What are Rammy's Inc.'s current ratio, quick ratio, and cash ratio for 2013?
A)1.74242, 0.30303, 0.07576
B)7.1875, 1.25, 0.3125
C)1.43939, 0.30303, 0.07576
D)19.16667, 3.33333, 0.83333
A)1.74242, 0.30303, 0.07576
B)7.1875, 1.25, 0.3125
C)1.43939, 0.30303, 0.07576
D)19.16667, 3.33333, 0.83333
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37
Will's Wheels, Inc. reported a debt-to-equity ratio of 0.65 times at the end of 2013. If the firm's total debt at year-end was $5 million, how much equity does Will's Wheels have?
A)$0.65 million
B)$3.25 million
C)$5 million
D)$7.69 million
A)$0.65 million
B)$3.25 million
C)$5 million
D)$7.69 million
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38
You are evaluating the balance sheet for Blue Jays Corporation. From the balance sheet you find the following balances: cash and marketable securities = $200,000, accounts receivable = $800,000, inventory = $1,000,000, accrued wages and taxes = $250,000, accounts payable = $400,000, and notes payable = $300,000. What are Blue Jays' current ratio, quick ratio, and cash ratio, respectively?
A)1.05263, 1.05263, 0.21053
B)2.10526, 1.05263, 0.21053
C)3.07692, 1.53846, 0.30769
D)3.07692, 1.05263, 0.30769
A)1.05263, 1.05263, 0.21053
B)2.10526, 1.05263, 0.21053
C)3.07692, 1.53846, 0.30769
D)3.07692, 1.05263, 0.30769
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39
To interpret financial ratios, managers, analysts, and investors use which of the following type of benchmarks?
A)Competitive analysis
B)Cross-industry analysis
C)Time-industry analysis
D)Time series analysis
A)Competitive analysis
B)Cross-industry analysis
C)Time-industry analysis
D)Time series analysis
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40
Last year Umbrellas Unlimited Corporation had an ROA of 10 percent and a dividend payout ratio of 50 percent. What is the internal growth rate?
A)1.00 percent
B)2.25 percent
C)5.26 percent
D)100.00 percent
A)1.00 percent
B)2.25 percent
C)5.26 percent
D)100.00 percent
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41
You have the following information on Zip's Diner, Inc.: sales to working capital = 8 times, profit margin = 5 percent, net income available to common stockholders = $20 million, and current liabilities = $4 million. What is the firm's balance of current assets?
A)$4.125m
B)$6.5m
C)$46m
D)$54m
A)$4.125m
B)$6.5m
C)$46m
D)$54m
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42
Paige's Purses, Inc. reported a debt to equity ratio of 2.4 times at the end of 2013. If the firm's total assets at year-end are $27 million, how much of their assets is financed with equity?
A)$7.94m
B)$11.25m
C)$19.06m
D)$64.8m
A)$7.94m
B)$11.25m
C)$19.06m
D)$64.8m
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43
Last year Rain Repel Corporation had an ROA of 5 percent and a dividend payout ratio of 90 percent. What is the internal growth rate?
A)4.75 percent
B)0.50 percent
C)50.00 percent
D)52.63 percent
A)4.75 percent
B)0.50 percent
C)50.00 percent
D)52.63 percent
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44
Last year Rain Repel Corporation had an ROE of 10 percent and a dividend payout ratio of 80 percent. What is the sustainable growth rate?
A)1.11 percent
B)2.04 percent
C)44.44 percent
D)50.00 percent
A)1.11 percent
B)2.04 percent
C)44.44 percent
D)50.00 percent
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45
Green Products, Inc. has current liabilities = $40 million, current ratio = 2.4 times, inventory turnover ratio = 8 times, average collection period = 40 days, and sales = $320 million. What is the value of their cash and marketable securities?
A)$20.93m
B)$56.00m
C)$75.07m
D)$96.00m
A)$20.93m
B)$56.00m
C)$75.07m
D)$96.00m
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46
Ernie's Mufflers has current liabilities of $45 million. Cash makes up 5 percent of the current assets and accounts receivable makes up another 50 percent of current assets. Ernie's current ratio = 1.5 times. What is the value of inventory listed on the firm's balance sheet?
A)$13.75m
B)$20.25m
C)$30.375m
D)$33.75m
A)$13.75m
B)$20.25m
C)$30.375m
D)$33.75m
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47
Nicole's Neon Signs, Inc. reported a debt to equity ratio of 1.9 times at the end of 2013. If the firm's total assets at year-end are $100 million, how much of their assets is financed with equity?
A)$34.48m
B)$65.52m
C)$52.63m
D)$100m
A)$34.48m
B)$65.52m
C)$52.63m
D)$100m
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48
Zoe's Dog Toys, Inc. reported a debt to equity ratio of 0.5 times at the end of 2011. If the firm's total assets at year-end are $50 million, how much of their assets is financed with equity?
A)$16.67m
B)$25m
C)$33.33m
D)$50m
A)$16.67m
B)$25m
C)$33.33m
D)$50m
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49
You have the following information on Olivia's Bridle Shop: total liabilities and equity = $65 million, current liabilities = $10 million, inventory = $15 million, and quick ratio = 3 times. Using this information, what is the balance for fixed assets on Olivia's balance sheet?
A)$20m
B)$40m
C)$45m
D)$135m
A)$20m
B)$40m
C)$45m
D)$135m
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50
Calculate the times interest earned ratio for Tierre's Ts, Inc. using the following information. Sales = $200,000, cost of goods sold = $50,000, depreciation expense = $13,000, addition to retained earnings = $70,000, dividends per share = $0.50, tax rate = 30 percent, and number of shares of common stock outstanding = 1,000. Tierre's Ts has no preferred stock outstanding.
A)0.1814
B)0.4854
C)0.685
D)3.7756
A)0.1814
B)0.4854
C)0.685
D)3.7756
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51
Burt's TVs has current liabilities of $25 million. Cash makes up 40 percent of the current assets and accounts receivable makes up another 20 percent of current assets. Burt's current ratio = 0.85 times. What is the value of inventory listed on the firm's balance sheet?
A)$4.25m
B)$8.5m
C)$10m
D)$40m
A)$4.25m
B)$8.5m
C)$10m
D)$40m
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52
Calculate the times interest earned ratio for Paige's Purses, Inc. using the following information: sales = $50,000,000, cost of goods sold = $15,000,000, depreciation expense = $2,000,000, addition to retained earnings = $10,000,000, dividends per share = $1.10, tax rate = 30 percent, and number of shares of common stock outstanding = 10,000,000. Paige's Purses has no preferred stock outstanding.
A)0.27
B)3.30
C)11.00
D)16.67
A)0.27
B)3.30
C)11.00
D)16.67
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53
Last year Poncho Villa Corporation had an ROA of 16 percent and a dividend payout ratio of 25 percent. What is the internal growth rate?
A)1.19 percent
B)13.64 percent
C)25.40 percent
D)33.33 percent
A)1.19 percent
B)13.64 percent
C)25.40 percent
D)33.33 percent
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54
Oasis Products, Inc. has current liabilities = $10 million, current ratio = 1.5 times, inventory turnover ratio = 12 times, average collection period = 20 days, and sales = $100 million. What is the value of their cash and marketable securities?
A)$1,187,215
B)$8,333,333
C)$15,000,000
D)$17,146,188
A)$1,187,215
B)$8,333,333
C)$15,000,000
D)$17,146,188
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55
You have the following information on Marco's Polo Shop: total liabilities and equity = $205 million, current liabilities = $45 million, inventory = $60 million, and quick ratio = 2.4 times. Using this information, what is the balance for fixed assets on Marco Polo's balance sheet?
A)$37m
B)$97m
C)$145m
D)$157m
A)$37m
B)$97m
C)$145m
D)$157m
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56
Use the following information to calculate current assets: sales = $100 million, capital intensity ratio = 0.5 times, debt ratio = 30 percent, and fixed asset turnover ratio = 5 times.
A)$10m
B)$15m
C)$30m
D)$50m
A)$10m
B)$15m
C)$30m
D)$50m
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57
Use the following information to calculate current assets: sales = $12 million, capital intensity ratio = 4 times, debt ratio = 45 percent, and fixed asset turnover ratio = 2.5 times.
A)$4.8m
B)$21.6m
C)$43.2m
D)$48m
A)$4.8m
B)$21.6m
C)$43.2m
D)$48m
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58
Tierre's Ts, Inc. reported a debt to equity ratio of 3 times at the end of 2013. If the firm's total assets at year-end are $15 million, how much of their assets is financed with equity?
A)$3.75m
B)$5m
C)$11.25m
D)$45m
A)$3.75m
B)$5m
C)$11.25m
D)$45m
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59
You have the following information on Universe It Ts, Inc.: sales to working capital = 10 times, profit margin = 25 percent, net income available to common stockholders = $3 million, and current liabilities = $1 million. What is the firm's balance of current assets?
A)$1.075m
B)$1.2m
C)$2.2m
D)$5m
A)$1.075m
B)$1.2m
C)$2.2m
D)$5m
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60
Last year Umbrellas Unlimited Corporation had an ROE of 16.5 percent and a dividend payout ratio of 40 percent. What is the sustainable growth rate?
A)13.17 percent
B)10.99 percent
C)27.50 percent
D)32.93 percent
A)13.17 percent
B)10.99 percent
C)27.50 percent
D)32.93 percent
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61
You are considering investing in Totally Tire Services. You have been able to locate the following information on the firm: total assets = $50 million, accounts receivable = $10 million, ACP = 15 days, net income = $4.5 million, and debt-to-equity ratio = 0.75 times. What is the ROE for the firm?
A)1.58 percent
B)9.00 percent
C)15.75 percent
D)28.81 percent
A)1.58 percent
B)9.00 percent
C)15.75 percent
D)28.81 percent
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62
Leash N Collar reported a profit margin of 8 percent, total asset turnover ratio of 1.5 times, debt-to-equity ratio of 0.75 times, net income of $400,000, and dividends paid to common stockholders of $200,000. The firm has no preferred stock outstanding. What is Leash N Collar's internal growth rate?
A)5.2632 percent
B)7.3333 percent
C)8.6956 percent
D)6.383 percent
A)5.2632 percent
B)7.3333 percent
C)8.6956 percent
D)6.383 percent
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63
PJ's Ice Cream Parlor has asked you to help piece together financial information on the firm for the most current year. Managers give you the following information: sales = $50 million, total debt = $20 million, debt ratio = 50 percent, and ROE = 12 percent. Using this information, what is PJ's ROA?
A)4 percent
B)6 percent
C)10 percent
D)12 percent
A)4 percent
B)6 percent
C)10 percent
D)12 percent
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64
Last year, PJ's Ice Cream Parlors, Inc. reported an ROE = 12 percent. The firm's debt ratio was 40 percent, sales were $25 million, and the capital intensity ratio was 0.75 times. What is the net income for PJ's last year?
A)$1.35m
B)$2.40m
C)$3.00m
D)$18.75m
A)$1.35m
B)$2.40m
C)$3.00m
D)$18.75m
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65
Fancy Paws' year-end price on its common stock is $20. The firm has a profit margin of 12 percent, total assets of $20 million, a total asset turnover ratio of 0.5, no preferred stock, and there are 2 million shares of common stock outstanding. What is the PE ratio for Fancy Paws?
A)3.33
B)8.33
C)10.00
D)33.33
A)3.33
B)8.33
C)10.00
D)33.33
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66
Lab R Doors' year-end price on its common stock is $40. The firm has total assets of $75 million, the debt ratio is 60 percent, there is no preferred stock, and there are 4 million shares of common stock outstanding. Calculate the market-to-book ratio for Lab R Doors.
A)2.13
B)3.20
C)5.33
D)10.00
A)2.13
B)3.20
C)5.33
D)10.00
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67
You are thinking of investing in Wave Runnerz, Inc. You have only the following information on the firm at year-end 2013: net income = $10 million, total debt = $65 million, and debt ratio = 35 percent. What is Wave Runnerz's ROE for 2013?
A)8.28 percent
B)15.38 percent
C)28.57 percent
D)43.96 percent
A)8.28 percent
B)15.38 percent
C)28.57 percent
D)43.96 percent
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68
You are thinking of investing in Tikki's Torches, Inc. You have only the following information on the firm at year-end 2011: net income = $500,000, total debt = $12 million, and debt ratio = 40 percent. What is Tikki's ROE for 2011?
A)1.67 percent
B)2.78 percent
C)4.17 percent
D)10.42 percent
A)1.67 percent
B)2.78 percent
C)4.17 percent
D)10.42 percent
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69
You have located the following information on Tyler Company: debt ratio = 50 percent, capital intensity ratio = 1.5 times, profit margin = 9 percent, and dividend payout ratio = 40 percent. What is the sustainable growth rate for Tyler?
A)12.00 percent
B)7.76 percent
C)20.00 percent
D)30.00 percent
A)12.00 percent
B)7.76 percent
C)20.00 percent
D)30.00 percent
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70
Lab R Doors' year-end price on its common stock is $40. The firm has a profit margin of 10 percent, total assets of $30 million, a total asset turnover ratio of 2, no preferred stock, and there are 4 million shares of common stock outstanding. What is the PE ratio for Lab R Doors?
A)0.375
B)0.750
C)6.667
D)26.667
A)0.375
B)0.750
C)6.667
D)26.667
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71
Fancy Paws' year-end price on its common stock is $20. The firm has total assets of $40 million, the debt ratio is 40 percent, there is no preferred stock, and there are 2 million shares of common stock outstanding. Calculate the market-to-book ratio for Fancy Paws.
A)0.47
B)1.67
C)8.00
D)10.00
A)0.47
B)1.67
C)8.00
D)10.00
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72
DJ's Soda Fountain has asked you to help piece together financial information on the firm for the most current year. Managers give you the following information: sales = $20 million, total debt = $3 million, debt ratio = 75 percent, ROE = 27 percent. Using this information, what is DJ's ROA?
A).0675 percent
B)6.75 percent
C)25.00 percent
D)27.00 percent
A).0675 percent
B)6.75 percent
C)25.00 percent
D)27.00 percent
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73
Which of the following activities will increase a firm's current ratio?
A)Purchase inventory using cash
B)Buy equipment with a short-term bank loan
C)Accrued wages and taxes increase
D)None of these statements will increase a firm's current ratio
A)Purchase inventory using cash
B)Buy equipment with a short-term bank loan
C)Accrued wages and taxes increase
D)None of these statements will increase a firm's current ratio
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74
Saddle and Bridle reported a profit margin of 12 percent, total asset turnover ratio of 2 times, debt-to-equity ratio of 1.9 times, net income of $1 million, and dividends paid to common stockholders of $250,000. The firm has no preferred stock outstanding. What is Saddle and Bridle's internal growth rate?
A)13.64 percent
B)18.00 percent
C)24.00 percent
D)21.95 percent
A)13.64 percent
B)18.00 percent
C)24.00 percent
D)21.95 percent
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75
You have located the following information on Rock Company: debt ratio = 40 percent, capital intensity ratio = 2.25 times, profit margin = 8 percent, and dividend payout ratio = 25 percent. What is the sustainable growth rate for Rock?
A)3.56 percent
B)6.00 percent
C)4.65 percent
D)8.00 percent
A)3.56 percent
B)6.00 percent
C)4.65 percent
D)8.00 percent
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76
You have located the following information on Greenwich Company: debt ratio = 60 percent, capital intensity ratio = 0.75 times, profit margin = 13.5 percent, and dividend payout ratio = 80 percent. What is the sustainable growth rate for Greenwich?
A)2.70 percent
B)10.80 percent
C)25.00 percent
D)9.89 percent
A)2.70 percent
B)10.80 percent
C)25.00 percent
D)9.89 percent
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77
You are considering investing in Lenny's Lube, Inc. You have been able to locate the following information on the firm: total assets = $20 million, accounts receivable = $6 million, ACP = 20 days, net income = $5 million, and debt-to-equity ratio = 2.5 times. What is the ROE for the firm?
A)2.5000 percent
B)13.9882 percent
C)35.0000 percent
D)87.50 percent
A)2.5000 percent
B)13.9882 percent
C)35.0000 percent
D)87.50 percent
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78
You have located the following information on Maize Company: debt ratio = 20 percent, capital intensity ratio = 1.25 times, profit margin = 12 percent, and dividend payout ratio = 10 percent. What is the sustainable growth rate for Maize?
A)1.20 percent
B)10.10 percent
C)12.11 percent
D)73.26 percent
A)1.20 percent
B)10.10 percent
C)12.11 percent
D)73.26 percent
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79
Last year, DJ's Soda Fountains, Inc. reported an ROE = 27 percent. The firm's debt ratio was 50 percent, sales were $9 million, and the capital intensity ratio was 1.5 times. What is the net income for DJ's last year?
A)$1.22m
B)$1.82m
C)$2.43m
D)$2.84m
A)$1.22m
B)$1.82m
C)$2.43m
D)$2.84m
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80
You are thinking of investing in Ski Sports, Inc. You have only the following information on the firm at year-end 2013: net income = $50,000, total debt = $1 million, and debt ratio = 70 percent. What is Ski's ROE for 2013?
A)2.94 percent
B)3.49 percent
C)7.14 percent
D)11.67 percent
A)2.94 percent
B)3.49 percent
C)7.14 percent
D)11.67 percent
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