5) Iris Income Statement

Cost of Goods Sold 320

Depreciation Expense 35

Interest Expense 20

Operating Expense (excluding depreciation) 115

Sales 690

What was Iris Inc's earnings before interest and taxes (EBIT)

6) Iris Balance Sheet

Accounts Payable and Accruals 65

Accounts Receivable 63

Accumulated Depreciation (175)

Cash 31

Common Stock 120

Fixed Assets (gross) 390

Inventory 129

Long-Term Debt 200

Retained Earnings 65

What is Iris Inc.'s Total Assets?

7) Flying Tigers, Inc., has net sales of $796,000 and accounts receivables of $157,000. What is the firm's accounts receivables turnover? (Give your answer up to two decimal places)

8)Reagan Corp. has reported a net income of $805,000 for the year. The company's share price is $13.59, and the company has 317,050 shares outstanding. Compute the firm's price-earnings ratio up to two decimal places.

9) The Florida lottery agrees to pay the winner $247,000 at the end of the year for next 20 years. What is the future value of this prize if each payment is put in an account earning 0.08?