The following amounts were taken from the financial statements of Waterway Company: 2017 2016 Total assets $802000 $1050000 Net sales 700000 630000 Gross profit 380000 310000 Net income 105000 112000 Weighted average number of common shares outstanding 60000 60000 Market price of common stock $40 $37 The profit margin ratio for 2017 is 14%. 16%. 15%. 18%.

Question 46 The following amounts were taken from the financial statements of Waterway Company: 2017 2016 Total assets 5802000 $1050000 Net sales 700000 630000 Gross profit 380000 310000 Net income 105000 112000 Weighted average number of common shares outstanding 60000 60000 Market price of common stock $40 $37 The profit margin ratio for 2017 is 14% 16% 15%. 18%. Question 47 Click here to view the factor table. (For calculation purposes, use 5 decimal places as displayed in the factor table provided.) (a) What is the present value of $31,500 due 8 periods from now, discounted at 8%? (Round answer to 2 decimal places, e.g. 25.25.) Present value $ (b) What is the present value of $31.500 to be received at the end of each of 6 periods, discounted at 9%? (Round answer to 2 decimal places, e.g. 25.25.) Present value $