1. Niagara Flours owes $16,929 in taxes on taxable income of $61,509. If the firm earns $100 more in income, it will owe an additional $48 in taxes. What is the average tax rate on income of $61,609? Show your calculations!

1. 28.00 percent
2. 30.33 percent
3. 35.00 percent
4. 27.56 percent

2. What is the total debt ratio for a firm with debt-equity ratio of 0.25? Show your calculations!

1. 75%
2. 20%
3. 33.3%
4. 66.7%

3. You are analyzing a company that has cash of $8,800, accounts receivable of $15,800, fixed assets of $87,600, accounts payable of $40,300, and inventory of $46,900. What is the quick ratio? Show your calculations!

1. 1.20
2. .67
3. .83
4. .61