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thank you!! I will thumbs up for the help! 15. Boomer Co. had the following ratio information: Current Year Prior Year Debt to assets ratio

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15. Boomer Co. had the following ratio information: Current Year Prior Year Debt to assets ratio 58% 52% Times interest earned ratio 6.2 6.1 Free cash flow $20.5 million $20 million Which of the following is false a) Boomer Co's debt to assets ratio indicates increased risk b) Despite increased debt, Boomer Co's ability to cover interest expense remains strong c) Boomer Co's ability to pay off long-term debt remains strong d) Boomer Co. improved all solvency ratios from the prior year to the current year. 16. Which of the following is false a) Decreases in operating expenses as a percentage of sales is always a positive sign for a company since it increases the net income percentage b) It is important analyze amounts on the income statement as a percentage of sales, not just dollar amounts c) Increases or decreases in the gross profit margin has the ability to also impact the net income percentages d) A decrease in the gross profit margin may be a result of increased inventory costs. 17. According to Ethics Insight - Cookie Jar Allowances, what does tapping into the cookie jar" refer to? a) When a company records revenue in the upcoming periods as current revenue. b) When a company reduced the allowance for doubtful accounts so that earnings appear higher c) When a company uses fraudulent accounts in order to balance the books d) When a company takes funds from one account to pay off other expenses

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