I have my own answers here, can i compare my answers to the tutor?

NAME: _____________________________ 1. Lisa Inc.'s balance sheet appears below: DATE:________ The company's sales for the year were $300 thousand, its cost of goods sold was $220 thousand, and its net income was $35 thousand. All sales were on credit. Preferred dividends for the year were $5 thousand. i. Lisa Inc.'s acid-test ratio at December 31, Year 2, was closest to _______ A. 0.6 B. 1.1 C. 1.8 D. 2.0 ii. . Lisa Inc.'s accounts receivable turnover for Year 2 was closest to _______ A. 4.9 B. 5.9 C. 6.7 D. 8.0 iii. Lisa Inc.'s inventory turnover for Year 2 was closest to ________ A. 3.7 B. 4.0 C. 4.4 D. 5.0 iv. Lisa Inc.'s book value per share of common stock at December 31, Year 2, was closest to: A. $10.00 B. $11.25 C. $19.33 D. $18.33 v. Lisa Inc.'s return on common stockholders' equity for Year 2 was closest to _______ A. 7.8% B. 10.6% C. 10.9% D. 12.4% 2. Below is a comparative income statement for Samson Company: Income Statement For the Years Ended December 31, 20X6 and 20X5 Sales Less: Cost of goods sold Gross profit Less operating expenses: Wage expense Depreciation expense Rent expense Miscellaneous expense Total operating expenses Operating income Less other expenses: Interest Income before tax Less: Income tax expense Net income 20X6 20X5 $1,744 992 $752 $1,562 806 $756 $172 28 36 40 $276 $160 26 36 70 $292 $476 $464 20 $456 182 $274 60 $404 162 $242 If a common-size income statement were prepared, _________________ would be attributable to the 20X6 income tax expense of Samson Company. a. 10.4% b. 11.0% c. 12.4% d. 39.9% 3. Below is the balance sheet for Triple H Company: Triple H Company Balance Sheet December 31, 20X6 Current assets: Cash Accounts receivable $380 430 20X5 $242 194 Inventory Prepaid insurance Total current assets Long-term assets: Fixed assets Less: Accumulated depreciation Total long-term assets Total assets Current liabilities: Accounts payable Wages payable Total current liabilities Long-term liabilities: Notes payable Total liabilities Owners' equity: Common stock Retained income Total owners' equity Total liabilities and owners' equity 238 32 $1,080 388 76 $900 $406 (272) $134 $1,214 $452 (228) $224 $1,124 $176 38 $214 $152 32 $184 420 $634 420 $604 $190 390 $580 $1,214 $160 360 $520 $1,124 i. Triple H Company's prepaid insurance increased (decreased) by: a. 57.9% b. (146.7)% c. (57.9)% d. 146.7% ii. Triple H Company's accounts receivable increased (decreased) by: a. (121.65)% b. (54.88)% c. 27.44% d. 121.65% 4. Bevington Studio reported the following income statement and balance sheet amounts on December 31, 2007. (Table 13.5) Net sales revenue (all credit) Cost of goods sold Gross profit Selling and general expenses Interest expense Net income Current assets Long-term assets Total assets - 12/31 Current liabilities Long-term liabilities Common stockholders equity - 12/31 Total liabilities and stockholders' equity 2007 $950,000 630,000 320,000 230,000 20,000 $70,000 2006 $60,000 465,000 $525,000 $25,000 105,000 395,000 $55,000 445,000 $500,000 $20,000 205,000 275,000 $525,000 $500,000 Inventory and prepaid expenses account for $20,000 of the 2007 current assets. Average inventory for 2007 is $15,000. Average net accounts receivable for 2007 is $30,000. Average one-day sales are $3,150. There are 7,000 shares of common stock outstanding. Total dividends paid during 20X7 were $140,000. The market price per share of common stock is $21. i) Refer to Table 13.5. What is the debt ratio for 2007? .25 B ) .71 C) .29 D) .55 0.36 iii) ii) Refer to Table 13.5. What is the company' s current ratio for 2007? A) 0.42 B) 2.75 C) 2.40 D) Refer to 16.00 times Table D) 13.5. What is the company' s acid-test ratio? A) 1.80 B) 0.42 C) 2.40 0.63 iv) Refer to Table 13.5. What is the company' s inventory turnover? 21.33 times B) 31.50 times C) 42.00 times v) Refer to Table 13.5. What is the company' s accounts receivable turnover? 63.33 times B) 200.00 times C) 47.50 times 301.59 times vi) Refer to Table 13.5. What is the company' s days' sale in receivable s? 4.67 days B) 301.59 days C) 9.52 days D) 19.05 days vii) Refer to Table 13.5. What is the company' s timesinterestearned ratio? 3.5 times B) 31.5 times C) 47.5 times 16.0 times viii) Refer to Table 13.5. What is the company' s rate of return on net sales? .074 B) .111 C ) .219 .133 B ) .063 ix) Refer to Table 13.5. What is the company' s rate of return on total assets? .133 B) .137 C) .176 .171 x) Refer to Table 13.5. What is the company' s rate of return on common stockhold ers' equity? .269 C) .209 .171 xi) Refer to Table 13.5. What is the company' s earnings per share? $42.86 B) $10.00 C) $45.71 $12.88 xii) Refer to Table 13.5. What is the company's price/earnings ratio? A) 1.63 B) 0.46 C) 2.10 0.49 x i i i ) Refer to Table 13.5. What is the company' s dividend yield? $ .95 B) $20.00 C) $ 1.05 $ 2.00 xiv) Refer to Table 13.5. What is the company's book value per share of common stock on December 31, 2007? A) $75.00 B) $15.00 C) $56.43 $10.00