3. What is the break-even point in units if fixed costs are $2000, variable costs are $160, and the selling price is $460? *

1. 3.67
2. 6.67
3. 5.67
4. 4.67

4. What is the contribution margin if fixed costs are $2000, variable costs are $160, and the selling price is $460? *

1. 100
2. 400
3. 200
4. 300

5. How many units in sales are required to earn a target profit of $47,000 if fixed costs are $2000, variable costs are $160, and selling price is $460? *

1. 143.33
2. 153.33
3. 133.33
4. 163.33

6. What sales price is required to earn a target profit of $47,000 if fixed costs are $2000, variable costs are $160, and sales in units are 200? *

1. 305
2. 505
3. 405
4. 205

7. Using the financial statements provided, calculate the financial ratio: return on sales for the year 2013. *

1. 0.48
2. 0.38
3. 0.18
4. 0.28

8. Using the financial statements provided, calculate the financial ratio: sales to working capital for the year 2013. *

1. 5.07
2. 4.07
3. 2.07
4. 3.07

9. Using the financial statements provided, calculate the financial ratio: return on assets for the year 2013. *

1. 0.23
2. 0.13
3. 0.33
4. 0.43

10. Using the financial statements provided, calculate the financial ratio: current ratio for the year 2013. *

1. 1.72
2. 1.62
3. 1.52
4. 1.82

11. Using the financial statements provided, calculate the financial ratio: sales to total assets for the year 2013. *

1. 1.26
2. 1.36
3. 1.46
4. 1.16

12. Using the financial statements provided, calculate the financial ratio: return on equity for the year 2013. *

1. 0.94
2. 0.74
3. 0.64
4. 0.84

13. Using the financial statements provided, calculate the financial ratio: quick ratio for the year 2013. *

1. 1.49
2. 1.19
3. 1.39
4. 1.29

14. Using the financial statements provided, calculate the financial ratio: debt ratio for the year 2013. *

1. 0.63
2. 0.83
3. 0.93
4. 0.73

15. Using the financial statements provided, calculate the financial ratio: debt equity ratio for the year 2013. *

1. 4.70
2. 2.70
3. 1.70
4. 3.70

16. Using the financial statements provided, calculate the financial ratio: long-term debt to total assets for the year 2013. *

1. 0.33
2. 0.43
3. 0.23
4. 0.13

17. Using the financial statements provided, calculate the financial ratio: times interest earned for the year 2013. *

1. 18.37
2. 17.37
3. 15.37
4. 16.37

18. Using the financial statements provided, calculate average daily sales for the year 2013. *

1. 1,480.82
2. 1,780.82
3. 1,680.82
4. 1,580.82

2013 $ $ $ 270,000 113,400 86,400 13,500 $ $ 483,300 32,400 $ 515,700 Balance Sheet Assets Cash Accounts Receivable Inventory Prepaid Expenses Total Current Assets Fixed Assets Total Assets Liabilities & Equity Accounts Payable Notes Payable Accrued Expenses Taxes Payable Deferred Taxes Total Current Liabilities Long-Term Notes Total Liabilities Capital Stock Retained Earnings Total Equity Total Liabilities & Equity Income Statement Sales Cost of Goods Sold Gross Profit Interest Income Total Income Sales Salaries Office Salaries Office Equipment Rental Interest Expense General & Administrative Total Expenses Income Before Tax Income Taxes Net Income 2013 650,000 182,000 468,000 65,000 533,000 149,500 32,500 45,500 19,500 5,850 252,850 280,150 162,500 117,650 $ $ $ 87,669 46,413 41,256 36,099 46,413 $ 257,850 118,611 $ 376,461 51,570 87,669 $ 139,239 $ 515,700 $