The following data apply to items (a) through (g):

  

      

  

      

  

      

  

Required Answer the following multiple-choice questions:

  

a. The acid-test ratio for 2011 is

  

1. 1.1-to-1.

2. 0.9-to-1.

3. 1.8-to-1.

4. 0.2-to-1.

5. 0.17-to-1.

  

b. The average number of days’ sales outstanding in 2011 is

  

1. 18 days.

2. 360 days.

3. 20 days.

4. 4.4 days.

5. 80 days.

  

c. The times interest earned ratio for 2011 is

  

1. 3.0 times.

2. 1.0 time.

3. 72.0 times.

4. 2.0 times.

5. 6.0 times.

  

d. The asset turnover in 2011 is

  

1. 3.2 times.

2. 1.7 times.

3. 0.4 time.

4. 1.1 times.

5. 0.13 time.

  

e. The inventory turnover in 2011 is

  

1. 13.6 times.

2. 12.5 times.

3. 0.9 time.

4. 7.0 times.

5. 51.4 times.

  

f. The operating income margin in 2011 is

  

1. 2.7%.

2. 91.7%.

3. 52.5%.

4. 95.8%.

5. 8.3%.

  

g. The dividend payout ratio in 2011 is

  

1. 100%.

2. 36%.

3. 20%.

4. 8.8%.

5. 33.3%. 

JOHANSON COMPANY Statement of Financial Position December 31, 2010 and 2011 (In thousands) 2010 2011 Assets Current assets: $ 380 1,500 2,120 4,000 $ 400 1,700 2,200 4,300 Cash and temporary investments Acounts receivable (net) Inventories Total current assets Long-term assets: Land 500 500 Building and equipment (net) Total long-term assets Total assets 4,000 4,500 $8,500 4,700 5,200 $9,500