How much cash did Lehnboff Inc. have on its balance sheet at the end of 2002? a) $ 50 million b) $ 100 million c) $ 200 million d) $ 400 million e) $1,400 million 13)In its recent income statement, Smith Software Inc. reported $25 million of net income, and in its year- end balance sheet, Smith reported $405 million of retained carnings. The previous year, its balance sheet showed $390 million of retained earnings. What were the total dividends paid to shareholders during the most recent year? a) $ 3,500,000 b) 5 5,000,000 c) $ 6,750,000 d) $10,000,000 e) $11,250,000 14)Edge Brothers recently reported net income of $385,000. The tax rate is 40 percent. The company's interest expense was $200,000. What would have been the company's net income if it would have been able to double its operating income (EBIT), assuming that the company's tax rate and interest expense remain unchanged? a) $ 770,000 b) S 890,000 c) $ 920,000 d) S1,100,000 c) $1,275,000 15)New Hampshire Services reported $2.3 million of retained earnings on its 2001 balance sheet. In 2002, the company lost money-its net income was -$500,000 (pegative S500,000). Despite the loss, the company still paid a $1.00 per share dividend. The company's eanings per share for 2002 were -$2.50 (negative $2.50). What was the level of retained earnings on the company's 2002 balance sheet? a) b) c) d) e) $1,2 million $1.6 million $1.8 million $2.6 million $2.8 million 16)New Mexico Lumber recently reported that its earnings per share were $3.00. The company has 400,000 shares of common stock outstanding, its interest expense is $500,000, and its corporate tax rate is 40 percent. What is the company's operating income? a) $ 980,000 b) $1,220,000 c) $2,000,000 d) $2,500,000 e) $3,500,000