Question

tax expense will be RUH Inc. has camins before ses or SO 000 in 2015. The company's tax expense A) $20.000 ) 23.250. C) 515,450 D) $27.200 ammo size income statements represent al figures on the income statement A) as a percentage of total assets. B) as a percentage change from the previous year. C) as a percentage of some benchmark figure. Di percent of the current year's sales, 9) Which of the following is the best indicator of mannen ettertiveness at maging the firm's balance sheet A) Total asset turnover B) Operating profit margin C) Debt ratio Di Times-interest-earned 10) Wireless Communications has a total turnover of 2.66. in limbiles of $1.004.162, and sales revenues of $7,025,000. What is Wireless's debt ratio? 10) A) 26.796 B) 80% C) 14.396 D) 1.1% 11) Kingsbury Associates has current assets as follows: Cash Accounts receivable Inventories $3,000 $4,500 S8.000 11) If Kingsbury has a current ratio of 3.2, what is its quick ratio? A) 2.07 B) 0.96 C)1.55 D) 0.48 12) Millers Metalworks, Inc. has a total asset turnover of 2.5 and a net profit margin of 3.5%. The total debt ratio for the firm is 50% Calculate Millers's return on equity 12) A) 21.5% B) 19.5% C) 17.5% D) 23.5% 13) Orthy Industries has an accounts receivable turnover ratio of 4.3. If Ortny has an accounts receivable balance of $90,000, what is Ortny's average daily credit sales? 13) A) $1,548 B) $3.521 C) S1060 D) 5387,000 14) In 2012, Snout and Smith, Inc. had a gross profit of $27,000 on sales of $110,000. S & 5's operating expenses for 2012 were $13,000, and its net profit margin was .0585. Snout and Smith had no interest expense in 2012. What was S&S's operating profit margin? 14)_ A) 0.118 B) 0.157 C) 0.245 D) 0.127 15) Timelines can be expressed in terms of 15) A) months. B) days. C) years. D) any of the above 16) At what rate must $400 be compounded annually for it to grow to $716.40 in 10 years? A) 6% B) 8% C) 5% D) 7% 16) 17) You deposit 55,000 today in an account drawing 12% compounded quarterly. How much will you have in the account

Answer 1

7.
Answer is C) $15,450

Income	Tax rate	Income Tax
$         50,000	15%	$    7,500
$         25,000	25%	$    6,250
$            5,000	34%	$    1,700
$         80,000		$ 15,450

8.
Answer is D. Current year sales
In common size income statement, all items of income statement are shown as percentage of Current year sales.

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