1) Declan Inc. calculated its accounts receivable turnover for 2013 to be 20.0. Both years prior to 2013 showed accounts receivable turnovers to be 12.0. Based on this information, what is the best explanation for the change?

Select one:

a.The company had more sales in 2013 than in the prior two years.

b.None of the answer choices is correct.

c.The company had fewer sales in 2013 than in the prior two years.

d.The company had fewer accounts receivable in 2013 than the prior two years.

e.The company took longer to collect their accounts receivable in 2013 than the prior two years.

2) Before income taxes, Farley Company had revenues of $250,000 and expenses of $100,000 for the year excluding depreciation. Depreciation expense totaled $25,000 for the year. The company has an income tax rate of 40 percent. What is the company's after-tax cash flow for the year?

Select one:

a.$75,000

b.None of the answer choices is correct.

c.$90,000

d.$125,000

e.$100,000

3) Albany Company has net income before taxes of $90,000, interest expense of $36,000 and an income tax rate of 20%. Based on this information, the company's times interest earned ratio is:

Select one:

a.None of the answer choices is correct.

b.4.0 times

c.12.5 times

d.2.5 times

e.3.5 times