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Insert Table Chart Text Shape Media Comment Use the following information to answer questions 45-48 Thunder Road Corp supplies parts for race cars. Its current

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Insert Table Chart Text Shape Media Comment Use the following information to answer questions 45-48 Thunder Road Corp supplies parts for race cars. Its current market price is $80 per share, but was $100 per share last month. Its latest annual report shows net income of $4,450 and total common stock of $30,000. The annual report also lists 3,500 shares of common stock outstanding, $3,500 in retained earnings, and the annual cash dividend of $8.00 per share. Using the information, calculate: 45. Earnings per share A. $1.27 B. $1.30 C. $7.00 D. $1.00 E. None are correct 46. Current Price Earnings ratio A. 71 B. 63 C. 79 D. 53 E. None are correct 47. Book value per share A. $ 1.27 B. $8.57 C. $ 9.57 D.$1.00 E. None are correct 48. Dividend yield A. 8% B. 10% C. 12% D.15% E. None are correct 49. Dividend payout ratio, assuming Earnings per share are $20 A. 10% B. 15% C. 20% D. 40% E. none are correct 50. Which of the following does NOT represent the fundamental accounting equation? (A is assets; L is liabilities; SE is stockholder equity; RE is retained earnings; cc is contributed capital) A. A-LESE B. ALUSE C. A-L-RECC D. A=L+RE+CC E. None are incorrect 2.200 words 40.A company operates a perpetual inventory system, and has 100 units on hand at January 1 that cost $15 each. During the year the company purchases 100 units of Inventory at $20 per unit. The goods from the seller are shipped FOB destination point. The freight charge is $ 100. What is the per unit cost of the inventory purchased, if there are 50 units remaining at year end? A. $18.00 B. $20.00 C. $21.00 0.17.50 E. None are correct Use the following information to answer questions 41-43. From Corporation A's income statement for the year ended 12/31/19 Net sales revenues Net Income Income tax expense Cost of goods sold $.4,000 500 100 3,000 41. Return on sales percentage of Corp A for 2019 A. 25% B. 12.5% C. 60% D. 50% E. none are correct 42. Gross margin percentage of Corp A for 2019 is A. $1,000 B. $500 C. $600 D. 12.5% E. None are correct 43. Operating expenses are likely what amount? A. $3,000 B. $3,100 C. $1,000 D. $400 E. none are correct 44. XXX Corp reports total assets of $500 and stockholders' equity of $300. What is the debt to assets ratio (to nearest %)? A. 40% B. 20% E. None are correct C. 60% D. 67% 35. If the company uses straight line depreciation, and the truck is sold for $20,000 on December 31, 2020 (after recording the depreciation expense for year), what would be the result? A. $ 5.000 gain E. None are correct B. $4,000 gain C. $5,000 loss D. $.6.000 loss 36. If the truck is driven 15,000 miles in 2019, which of the following amounts should be recognized as depreciation expense assuming the company uses the units of production method? A. $3,280. B. $3,600. C. $3,000. D..$4,500 E. None are correct 37. If the double declining balance method is used, what would be the amount of depreciation expense for the year 2020? A. $. 8,000 B. $. 10,000 C. $.5.333 D. $.7.000 E. None are correct 38. Which of the following would not be classified as an intangible asset? A.Truck B. Copyrights C. Patents D. Trademark E. All are intangibles 39. Which of the following statements concerning multi-step income statements is true? A. On a multi-step income statement, the difference between sales revenue and cost of goods sold is called net margin. B. Multi-step Income statements are less informative and more confusing than single step statements C. Multi-step income statements make companies appear more profitable than single step statements D. On a single step income statement, the difference between sales revenue and cost of goods sold is called gross margin E. None are true 30. Which of the following would be classified as a tangible asset? A. Patent B. Trademark C. Copyright D. Contract E. None of the above 31. Depreciation, in accounting, is a devaluation concept. A. True B. False C. Cannot be determined 32. If prices are rising, which inventory cost flow method will produce the lowest amount for Cost of Goods Sold? A. FIFO C. Weighted Average B. LIFO D. Either Borc E. None of the above 33. On June 1, 2019, Siebens Enterprises loaned $20,000 to Tyler Company for one year at 12 percent interest. Under the terms of the promissory note, Tyler will repay the principal and pay one year's interest on May 31, 2020. Related to this note receivable, what amount of interest income would Siebens report on its 2020 income statement? A. $1,000 C. $800 B. $1,600 D. $933 E. None of the above 34. Related to this note receivable, what amount of interest income would Siekens report on its 2019 income statement? A. $2,400 C. &..BOA B. $1,400 D. $1,200 E. None of the above Use the following information to answer questions 35-37 On January 2, 2019. Philips Corporation purchased a truck that cost $36,000. The company expected to drive the truck 100,000 miles. The truck had an estimated salvage value of $6,000, and a useful life of 6 years. 35. If the company uses straight line depreciation, and the truck is sold for $20,000 on December 31, 2020 (after recording the depreciation expense for year), what would be the result? 2.200 words A5.000 min 4.0 amin CSG.as 6.00

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