(PLEASE USE TABLE ATTACHED)

1. What is the annual percentage rate of interest on terms: 7/11, net 31?*

A.1.28

B.1.58

C.1.38

D.1.48

2. What is the annual percentage rate of interest on terms: 5/9, net 29?*

A.0.91

B.0.81

C.0.61

D.0.71

3. What is the break-even point in units if fixed costs are $1400, variable costs are $112, and the selling price is $322?*

A.9.67

B.8.67

C.6.67

D.7.67

4. What is the contribution margin if fixed costs are $1400, variable costs are $112, and the selling price is $322?*

A.410

B.310

C.210

D.510

5. How many units in sales are required to earn a target profit of $3900 if fixed costs are $1400, variable costs are $112, and selling price is $322?*

A.35.24

B.15.24

C.45.24

D.25.24

6. What sales price is required to earn a target profit of $3900 if fixed costs are $1400, variable costs are $112, and sales in units are 300?*

A.129.67

B.229.67

C.329.67

D.429.67

7. Using the financial statements provided, calculate the financial ratio: return on sales for the year 2013.*

A.0.18

B.0.08

C.0.38

D.0.28

8. Using the financial statements provided, calculate the financial ratio: sales to working capital for the year 2013.*

A.1.93

B.4.93

C.3.93

D.2.93

9. Using the financial statements provided, calculate the financial ratio: return on assets for the year 2013.*

A.0.49

B.0.29

C.0.39

D.0.19

10. Using the financial statements provided, calculate the financial ratio: current ratio for the year 2013.*

A.4.82

B.2.82

C.1.82

D.3.82

11. Using the financial statements provided, calculate the financial ratio: sales to total assets for the year 2013.*

A.1.72

B.1.82

C.1.62

D.1.52

12. Using the financial statements provided, calculate the financial ratio: return on equity for the year 2013.*

A.1.08

B.3.08

C.2.08

D.0.08

13. Using the financial statements provided, calculate the financial ratio: quick ratio for the year 2013.*

A.1.49

B.4.49

C.2.49

D.3.49

14. Using the financial statements provided, calculate the financial ratio: debt ratio for the year 2013.*

A.0.53

B.0.63

C.0.83

D.0.73

15. Using the financial statements provided, calculate the financial ratio: debt equity ratio for the year 2013.*

A.0.70

B.1.70

C.3.70

D.2.70

16. Using the financial statements provided, calculate the financial ratio: long-term debt to total assets for the year 2013.*

A.0.33

B.0.13

C.0.43

D.0.23

17. Using the financial statements provided, calculate the financial ratio: times interest earned for the year 2013.*

A.15.37

B.5.37

C.9.37

D.25.37

18. Using the financial statements provided, calculate average daily sales for the year 2013.*

A.2,945.21

B.1,945.21

C.3,945.21

D.4,945.21

Balance Sheet 2013 Income Statement 2013 Assets Sales $ 710,000 Cash $ 230,000 Cost of Goods Sold 198,800 Accounts Receivable 96,600 Gross Profit 511,200 Inventory 73,600 Interest Income 71,000 Prepaid Expenses 11,500 Total Income 582,200 Total Current Assets $ 411,700 Sales Salaries 163,300 Fixed Assets 27,600 Office Salaries 35,500 Total Assets $ 439,300 Office Equipment Rental 49,700 Liabilities & Equity Interest Expense 21,300 Accounts Payable 74,681 General & Administrative 6,390 Notes Payable 39,537 Total Expenses $ 276,190 Accrued Expenses 35,144 Income Before Tax 306,010 Taxes Payable 30,751 Income Taxes 177,500 Deferred Taxes 39,537 Net Income $ 128,510 Total Current Liabilities $ 219,650 Long-Term Notes 101,039 Total Liabilities S 320,689 Capital Stock 43,930 Retained Earnings 74,681 Total Equity 118,611 Total Liabilities & Equity $ 439,300