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Instruction: Test is composed of long answer questions, multiple-choice questions, and true/false questions. Once complete, please submit this word file with your answers on Blackboard
Instruction: Test is composed of long answer questions, multiple-choice questions, and true/false questions. Once complete, please submit this word file with your answers on Blackboard under the final exam assignment. You will have two hours to complete the exam. Use following financial statements for question 1. For Years Ending December 31 2006E At December 31 2006E Sales 42,597 Assets Cost of Goods Sold 35,100 Cash 1,955 Gross Profit 7,497 Accounts Receivable 14,471 Inventories 3,847 General & Administrative Expense 3,578 Current Assets 20,273 Research & Development 232 Depreciation & Amortization 669 Plant, Property, & Equipment (net) 4,347 Earnings before Interest & Taxes 3,018 Other Assets 645 Land 2,853 Interest 658 Non-Current Assets 7,844 Earnings before Taxes 2,360 Taxes 826 Total Assets 28,117 Net Income 1,534 Liabilities & Shareholders Equity Accounts Payable 9,424 Current Portion of Long-term Debt 649 Current Liabilities 10,074 Long-Term Debt 8,480 Shareholders Equity 9,563 Total Liabilities & Shareholders Equity 28,117 Dividend Payout Ratio 20% 1. What is your estimate of the break-even sales point
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