How much needs to be invested today if your goal is to have $100,000 five years from today? The return on the investment is expected to be 10% and will be compounded semi-annually. (Use Table 1) (Round "PV Factor" to 4 decimal places and final answer to nearest dollar amount.)

$61,390

$62,090

$66,667

$50,000

2.

The following is a partial list of account balances from the books of Probst Enterprise at the end of 2010:

Accounts payable	$ 20,500
Accounts receivable	12,300
Accrued interest on short-term note payable	1,200
Cash	6,500
Wages payable	1,300
Income taxes payable	1,900
Inventory	10,000

Based solely upon these balances, what is the quick ratio? (Round your final answer to 2 decimal places.)

0.76

1.15

0.26

0.79

3.

SRJ Corporation had the following transactions: The accrual of interest expense on a six-month note payable. Collected cash for services to be provided within the next six months. The accrual of revenue. Which of the above transactions resulted in an increase in working capital?

The accrual of interest expense.

Collecting cash for services to be provided in the future.

The accrual of revenue.

Both the accrual of revenue and the collection of cash for future services.

4.

The following is a partial list of account balances from the books of Probst Enterprise at the end of 2010:

Accounts payable	$ 20,500
Accounts receivable	12,300
Accrued interest on short-term note payable	1,200
Cash	6,500
Wages payable	1,300
Income taxes payable	1,900
Inventory	10,000

Based solely upon these balances, what is the quick ratio? (Round your final answer to 2 decimal places.)

0.76

1.15

0.26

0.79