14. The following financial statement information is available for Buil Corporation: 2015 2014 Inventory $ 44,000 $ 43,000 Current assets 80,000 106,000 Total assets 432,000 358,000 Current liabilities 25,000 36,000 Total liabilities 102,000 88,000 The current ratio for 2015 is A) 31:1. B) 3.2:1. C) 1.5:1. D) 4.24:1. - 15. Stockholders are most interested in evaluating A) liquidity and solvency. B) profitability and solvency. C) liquidity and profitability. D) marketability and solvency. 16. Pan Inc. has an investment in available-for-sale securities of $70,000. This investment experienced an unrealized loss of $6,000 during the current year. Assuming a 35% tax rate, the effect of this loss on comprehensive income will be A) no effect. B) $70,000 increase. C) $24.500 decrease. D) $6.000 decrease. 17. Under IFRS, the statement of comprehensive income can be prepared under A) the one-statement approach only. B) the two-statement approach only. C) either the one-statement approach or the two-statement approach D) either the two-statement approach or the stockholders' equity statement approach. 18. Comparative balance sheets are usually prepared for A) one year. B) two years. C) three years. D) four years. 19. Beta's Bunny Barn has experienced a $80,000 loss due to tornado damage to its inventory. Tornados have never before occurred in this area. Assuming that the company's tax rate is 30%, what amount will be reported for this loss on the income statement? A) $80,000 B) $56,000 C) $24,000 D) $72,000 20. A company has an average inventory on hand of $60,000 and the days in inventory is 73 days. What is the cost of goods sold? A) $300,000 B) $4,380,000 C) $600,000 D) $2,190,000 21. The following amounts were taken from the financial statements of Leaf Company: 2015 2014 Total assets $800,000 $1,000,000 Net sales 720,000 650,000 Gross profit 352,000 320,000 Net income 150,000 117.000 Weighted average number of common shares outstanding 50,000 90,000 Market price of common stock $64.50 $39 The price-earnings ratio for 2015 is A) 21.5 times. B) 36 times. C) 4.5 times. D) 3.0 times