57. Assume the following sales data for a company: 2010 750,000 2009 500,000 What is the percentage increase in sales from 2009 to 2010? a. 25% b. 66.7% c. 50% d. 150% 57. Assume the following sales data for a company: 2010 750,000 2009 500,000 What is the percentage increase in sales from 2009 to 2010? a. 25% b. 66.7% c. 50% d. 150% Accounts payable Accounts receivable Accrued liabilities Cash Intangible assets Inventory Long-term investments Long-term liabilities Marketable securities Notes payable (short-term) Property, plant, and equipment Prepaid expenses $ 30,000 65,000 7,000 20,000 40,000 72,000 100,000 75,000 36,000 20,000 625,000 2,000 58. Based on the above data, what is the amount of quick assets? a. $163,000 b. $195,000 c. $121,000 d. $56,000 59. Based on the above data, what is the amount of working capital? a. $238,000 b. $138,000 c. $178,000 d. $64,000 60. Based on the above data, what is the quick ratio, rounded to one decimal point? a. 2.4 b. 3.4 c. 2.1 d. 1.5 61. Based on the following data for the current year, what is the accounts receivable turnover? Net sales on account during year Cost of merchandise sold during year Accounts receivable, beginning of year Accounts receivable, end of year Inventory, beginning of year Inventory, end of year $500,000 300,000 45,000 35,000 90,000 110,000 a. 12.5 b. 11.1 c. 10.0 d. 14.3 62. The independent auditor's report does which of the following? a. describes which financial statements are covered by the audit b. gives the auditor's opinion regarding the fairness of the financial statements c. summarizes what the auditor did d. states that the financial statements are truthful 4. The cash and securities comprising a sinking fund established to redeem bonds at maturity in 2015 should be classified on the balance sheet as a. fixed assets b. current assets c. intangible assets d. investments 20. If net income is $115,000 and interest expense is $30,000 for 2010, and the market price is $30, What is the price-earnings ratio on common stock for 2010. (round to one decimal point)? a. 17.0 b. 12.1 c. 12.4 d. 15.9