1. The return on assets was approximately

		22.58%
		17.21%
		12.04%
		16.41%

2. Assume the stock price was $ 5 per share and the EPS was $2. The Price Earnings Ratio was

		26.32
		2.50
		4.23
		9.01

3. Assume the stock price was $ 5 per share and the EPS was $2. The Earnings Yield was

		26.32%
		53.30%
		40.00%
		9.01%

181 Below is not homework unless assigned by your instructor The following data is for Laurel's Lassos, Inc. Balance Balance 12/31/16 12/31/17 Cash Accounts Receivable Allowance for Doubtful Accounts Inventory Prepaid Insurance Equipment Accumulated Depreciation Land Security Deposits Accounts Payable Wages Payable Rent Payable Interest Payable Taxes Payable Note Payable Common Stock ($1 each) Retained Earnings Sales Cost of Goods Sold Wage Expense Rent Expense Office Expenses Depreciation Expense Bad Debt Expense Insurance Expense Interest Expense Income Tax Expense 18,900 50,000 5,000 90,000 2,600 290,000 71,900 90,000 12,000 50,000 3,600 340,000 20 10,000 30,000 10,000 4,000 7,500 5,000 160,000 150,000 70,000 140,000 12,000 35,000 6,000 8,000 6,500 10,000 130,000 300,000 120,000 1,200,000 700,000 220,000 48,000 o46,000 271%. 735 0 gdo, o,o 15,000 6,000 14,500 (4 5o 27,150 2017 by exchanging 60,000 shares of common stock worth $60,000 land was acquired on June 30, The and cash for the purchase balance of the purchase price. The additional common stock (other than that issued for the was sold on October 31, 2017 for $1 per share. The company did not sell any during the year. All equipment purchased during the year was purchased for cash. The of the land) retained earnings for each year is after all closing entries have been made. The Note Payable of $30,000 principal plus interest at 10% on June 30" of each year. requires payments Prepare Financial Statements for 2017