Question Completion Status: QUESTION 14 MARNI COMPANY Balance Sheet As of December 31, 2007 ASSETS Cash Accounts Receivable Inventory Net Plant and Equipment Total Assets $50,000 100,000 200,000 650.000 $1,000,000 LIABILITIES AND STOCKHOLDERS' EQUITY Accounts Payable Accrued Expenses $100,000 90,000 Long-Term debt Common Stock Paid-In capital Retained earnings Total Liabilities and Stockholders' Equity 250,000 100,000 50,000 410,000 $1,000,000 MARNI COMPANY Income Statement For the Year Ended December 31, 2007 Click Save and Submit to save and submit. Click Save All Answers to save all answers MacBook Pro Remaining Time: 57 minutes, 37 seconds. Question Completion Status: Common Stock Paid-In capital Retained earnings Total Liabilities and Stockholders' Equity 100,000 50,000 410,000 $1,000,000 MARNI COMPANY Income Statement For the Year Ended December 31, 2007 Sales (all on credit) Cost of Goods Sold Gross Profit Sales and Administrative Expense Fixed Lease Expenses Depreciation Operating Profit Interest Expense Profit before Taxes Taxes (40%) Net Income $2,000,000 1.750,000 250,000 30,000 10,000 60,000 150,000 25.000 125,000 50.000 $75,000 Refer to the figure above. Times interest earned for Marni Company is_ 3x 5x 80X 6x QUESTION 15 Click Save and Submit to save and submit. Click Save All Answers to save all answers