FIN 315 Fall 2017 Final Exam 1. Trina\'sTrikes, Inc. reported a debt-to-equity r

Question

FIN 315 Fall 2017 Final Exam 1. Trina'sTrikes, Inc. reported a debt-to-equity ratio of 2 times at the end of 2013, If the firm's total dcht at year end was $10 million, how much equity does Trina's Trikes have? A. $2 million B. S5 million C. S10 million D. S20 million 2. Barnyard, Inc.'s 2013 income statement lists the following income and expenses: EBIT- $500.000, nleres expense - $45,000, and taxes $152.000. Barnyards has no preferred stock outstanding and 200,00 common stock outstanding. What are its 2013 earnings per share?02 24 2015 QC_CS-8741 A. $2.50 B. $2.275 C. $1.74 D. $1.515 3. If Epic, Inc. has an RO E-29%, equity multiplier-36, a profit margin of 12.4%, what is the total asset turnover ratio? (Round your answer to 4 decimal places) A. 0.6496 B. 0.7540 C. 0.1539 D. 0.0842 4. Jack and Jill Corporation's year-end 2013 balansce sheet lists current assets of S250,000, fixed assets of $800,000, current liabilities of $195,000, and long-term debt of $300,000. What is Jack and Jill's total stockholders' equity? A. $495,000 B. $555,000 C. $1,050,000 D. There is not enough information to calculate total stockholder's equity On which of the four major financial statements would you find the common stock and paid-in surplus? A. Balance sheet B. Income statement C. Statement of cash flows D. Statement of retained earnings 6. You are evaluating the balance sheet for Goodman's Bees Corporation. From the balance sheet you find the following balances: cash and marketable securities $200,000, accounts receivable $1,100,000, inventory $2,000,000, accrued wages and taxes S500,000, accounts payable S600,000, and notes payable-$100,000. Calculate Goodman's Bees' net working capital. A. $2,000,000 B. S2.100,000 C. $1,400.000 D. $1,900,000 7. What is the future value of$9,000 deposited for three years earning 8% interest rate annually? A. $2,337 B. $11.337 C. $20,337 D. $9,000

Explanation / Answer

1. Debt/Equity = 2/1

$10 million / Equity = 2/1

Equity = $5 million

Option B is correct

2. Earning per share = ($500000-$45000-$152000)/200000

= $1.515

Option D is correct

3. ROE = Equity multiplier*Net profit margin*asset turnover

29% = 3.6 * 12.4% * asset turnover

Asset turnover = .6496

Option A is correct

4. Total stockholders equity = ($250000+$800000)- ($300000+$195000) = $555000

Option B is correct

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