9. Calibers, Inc., had $34,100 in net fixed assets at the beginning of the year. During the year, the company purchased $8,500 in new equipment. They also sold, at a price of $1,400, some old equipment with a book value of $1,200. The depreciation expense for the year was $7,200. What is the net fixed asset balance at the end of the year? A. $19,600 B. $34,000 C. $34,200 D. $36,800 E. $48,600 10. The Boardwalk Boutique has beginning retained earnings of $32,600. For the year, the company earned net profit of $1,300 and paid out dividends of $500. The company also issued $2,500 worth of new stock. What is the value of the retained earnings account at the end of the year? A. $28,300 B. $30,700 C. $30,800 D. $33,300 E. $33,400 11. Pressley Cleaners has a return on equity of 9.1 percent, an equity multiplier of 1.4, and a total asset turnover of 1.3. What is the profit margin? A. 5.00 percent B. 5.20 percent C. 5.68 percent D. 6.45 percent E. 6.50 percent