1. ABC, Inc., has short-term assets of $5,000, long-term assets of $30,000, short-term liabilities of $4,500, and long-term debt of $10,000. (a) What is the value of the shareholders equity account for this firm? (b) What is the value of this firms net working capital?

2. A company began 2019 with retained earnings of $23.45 million. During the year, it paid four quarterly dividends of 0.25 per share to common stockholders holding 1 million shares. Preferred stockholders, holding 0.5 million shares, were paid four quarterly dividends of 0.50 per share. The firm had a net profit after taxes of 2.18 million. What is the value of the retained earnings balance at the end of the year?

3. Credit Card of America (CCA) has a current ratio of 3.5 and a quick ratio of 3.0. If its total current assets equal $73,500, what are CCAs (a) current liabilities and (b) inventory?

4. At the end of the year, Wrinkle Free Laundry (WFL) had $150,000 in total assets. (a) If WFLs total assets turnover was 2.0, what were its sales revenue? (b) If WFLs return on assets was 6 percent, what were its net income and net profit margin?