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A firm's balance sheets as of the December 31, 2018 and 2019 show the following items: 2018: Cash = $9,916,500; Account Receivable = $9,000,000; Inventory = $4,500,000; Gross Fixed Assets = $10,972,000; Accumulated Depreciation = $1,243,000; Retained Earnings = $1,957,500; Capital Surplus = $8,600,000; Common Stock ($0.50 par) = $4,600,000; Notes Payable = $8,921,000; Long term debt = $2,500,000; Accounts Payable = $6,657,000. 2019: Cash = $11,098,000; Account Receivable = $7,600,000; Inventory = $5,200,000; Gross Fixed Assets = $13,774,000; Accumulated Depreciation = $1,675,000; Retained Earnings = $2,866,900; Capital Surplus = $12,784,500; Common Stock ($0.50 par) = $4,940,800; Notes Payable = $7,773,000; Long term debt = $1,500,000; Accounts Payable = $6,132,000. Calculate the total proceeds from sale of new shares in 2019. O $340,800 O $4,525,300 $909,400 $4,184,500 2. If Kraffty Inc. has a profit margin of 12.3 percent, total asset turnover of 1.24 and ROE of 33.7 percent, what is the firm's debt-equity ratio? O 0.53 0.84 0.47 0.71 O 1.21 3. In 2017, MECCS Inc. had earnings before interest and taxes (EBIT) of $3,063,000; depreciation expense of $200,000; sales of $6,182,000; interest expense of $410,000 and tax rate of 34 percent. If MECCS paid out $1,136,740 in cash dividends, how much did MECCS add to retained earnings in 2017? O $1,655,940 O $614,240 O $1,750,980 $892,370 $519,200 Shelton Inc. has sales of $19.1 million; total equity of $32.3 million; and total debt of $19.7 million. If Shelton's profit margin is 19.5 percent, calculate the company's return on assets (ROA). 07.16 percent 3.97 percent 11.29 percent 8.77 percent 6.09 percent

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