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Lasch Corporation has provided the following financial data from its balance sheet and income statement: Total assets Accounts payable Accrued liabilities Notes payable, short term
Lasch Corporation has provided the following financial data from its balance sheet and income statement: Total assets Accounts payable Accrued liabilities Notes payable, short term Bonds payable Total liabilities Total stockholders' equity Year 2 $1,333,000 $158,000 $43,000 $47,000 $250,000 $498,000 $835,000 Year 1 $1,320,000 $160,000 $40,000 $50,000 $250,000 $500,000 $820,000 Income Statement-Year 2 For the Year Ended December 31, Year 2 Sales (all on account) Cost of goods sold Gross margin Operating expenses Net operating income Interest expense Net income before taxes Income taxes (30%) Net income $1,250,000 840,000 410,000 366,286 43,714 18,000 25,714 7,714 $18,000 The company's equity multiplier at the end of Year 2 is closest to: The company's equity multiplier at the end of Year 2 is closest to: O 1.60 O 1.68 O 0.63 0.60
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