1. Horizontal analysis of financial statements is accomplished through: A) placing statement items on an after-tax basis. B) common-size statements. C) computing both earnings per share and the price-earnings ratio. D) trend percentages. 2. Iffert Corporation's net income last year was $4,040,000. The dividend on common stock was $6.40 per share and the dividend on preferred stock was $2.30 per share. The market price of common stock at the end of the year was $43.30 per share. Throughout the year, 300,000 shares of common stock and 100,000 shares of preferred stock were outstanding. The dividend payout ratio is closest to: A) 0.50 B) 0.91 C) 1.02 D) 0.48 3. Naser Corporation's total current assets are $390,000, its noncurrent assets are $500,000, its total current liabilities are $330,000, its long-term liabilities are $370,000, and its stockholders' equity is $190,000. Working capital is: A) $130,000 B) $60,000 C) $190,000 D) $390,000