26. The year-end financial statements of Time Company reveal average shareholders equity attributable to controlling interest of $845,656 thousand, net operating profit after tax of $48,032 thousand, net income attributable to the company of $29,068 thousand, and average net operating assets of $357,958 thousand.

The companys return on net operating assets (RNOA) for the year is:

A) 8.1%

B) 5.3%

C) 13.4%

D) 42.3%

E) There is not enough information to calculate the ratio.

27. The Year 2 fiscal year-end financial statements for Walter Co. report revenues of $55,743 million, net operating profit after tax of $9,954 million, net operating assets of $58.720 million. The Year 1 fiscal year-end balance sheet reports net operating assets of $59,197 million.

Walters Year 2 net operating profit margin is:

A) 16.8%

B) 17.0%

C) 17.9%

D) 11.7%

E) There is not enough information to calculate the ratio.

28. The year-end balance sheet of Macur Corp. reports total assets of $154,955million, operating liabilities of $54,408 million, and total shareholders equity of $57,598 million.

Macur's nonoperating liabilities are:

A) $112,006 million

B) $ 42,949 million

C) $ 54,498 million

D) $ 97,357 million

E) There is not enough information to calculate the amount.

29. The fiscal year-end financial statements of Reed Enterprises shows average net operating assets (NOA) of $4,805 million, average net nonoperating obligations (NNO) of $605 million, average total liabilities of $6,343 million, and year-end equity of $5,250 million.

The companys year-end financial leverage (FLEV) is:

A) 0.144

B) 0.126

C) 0.115

D) 0.13

E) There is not enough information to determine the ratio.

30. Selected income statement data follow for Harper, Inc., for the year ended December 31 (in thousands). What is the companys times interest earned ratio?

Income before provision for income taxes	Interest expense	Statutory tax rate	Provision for income taxes	Net income
$1,025,959	$29,670	37%	$332,410	$693,548

A) 34.6

B) 24.4

C) 35.6

D) 11.2

E) None of these are correct.