11) What are the annual sales for a firm with $400,000 in debt, a total debt ratio of 0.4, and an asset turnover of 3? A) $333,333 B) $1,200,000 C$3,000,000 D) $1,800,000 12) What will be the approximate population of the United States, if its current population of 300 million grows at a compound rate of 2% annually for 25 years? A) 413 million B) 488 million C) 492 million D) 430 million 13) Which of the following is least likely to be discussed in the articles of incorporation? A) How the board of directors is to be structured B) The price range of the shares of stock C) How the firm is to be financed D) The purpose of the business 14) Retained earnings result from: A) the sale of additional shares of stock to investors. B) an excess of assets over liabilities. C) income not paid to shareholders. D) market values that exceed book values. 15) Someone offers to buy your car for four equal annual payments beginning 2 years from today. If you think that the present value of your car is $9,000 and the interest r