Multiple Choice Questions Use the following information to answer questions 3-16. Presented below are the statement of eamings (2020) and the summary statement of financial position (2019 and 2020) for Trek Inc. Trek Inc. Statement of Earnings For the year ended December 31, 2020 (in thousands of dollars) Sales $1,640 Cost of sales (800) Gross profil 840 (40) (400) 400 Depreciation expense Selling and administrative expenses Farnings from operations Loss on sale of equipment Interest expense Earnings before income taxes Income tax expense Net earnings (6) (24) 370 (100) 270 Trek Inc. Summary Statement of Financial Position (in thousands of dollars) Dec 31, 2020 Dec 31, 2019 Assets Cash $ 52 $60 Short-term Investments 80 40 Account Receivable (net) 198 80 Inventories 240 160 Prepaid Expenses 3 7 857 953 Property. Plant and Equipment (net) Total Assets 51.430 $1.200 Liabilities and Shareholders' Equity Current Liabilities $ 240 200 Bonds Payable Common Shareholders' Equity Total Liabilities and Shareholders' Equity 5 160 200 140 $1.200 990 51.430 Additional information a) Trek, Inc. purchased new equipment in 2020 for $55.000. It also sold used equipment during the year b) Trek Inc. had 84,000 common shares outstanding at December 31, 2019 On January 2. 2020. Trek Ing sold and issued 6,000 additional common shares for a total amount of $60.000. There were no other transactions affecting common shares during 2020 The market price per share was $33 at December 31, 2020. Trek's board of directors declared dividends at December 31, 2020, payable in January 2021 Select one 0239 OD 138 O-022 O. 325 Nowo Marks The quick ratio for 2020 is equal to Select one 3239 0 1 38 c 0.22 O 2.0.55 Notes Marks The inventory turnover ratio for 2020 is equal to Select one O a 4.00 b 3.33 500 Od 8 20 Notes o Marta The return on assets ratio for 2020 is equal to Select one ..21.06 Ob 20.63% 2230 16.58% The times interest eamed ratio for 2020 is equal to: Select one O 1225 O 0008 0 1125 Od 16.42 Note O The price-earnings ratio for 2020 is equal to: Select one a. 11.00 1.000 1028 0 10.65 None o Ma The dividend yield ratio for 2020 is equal to: Select one 600% O 51% O . 4.00% Od 18.33% Wonen Mads What is the amount of cash that Trek Inc received for the sale of the equipment? Select one O a 55.000 $38.000 O c $300 O $13.000