GNBExam16 - GNB 12e Practice Exam Chapter 16 Print these...

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GNB 12e Practice Exam – Chapter 16 Print these pages. Answer each of the following questions, explaining your answers or showing your work, as appropriate, and then compare your solutions to those provided at the end of the practice exam. 1. The following information pertains to the Pointe Company: 2009 2008 Revenues $100,000 $80,000 Cost of sales 50,000 40,000 Selling and administrative expense 20,000 10,000 Interest expense 5,000 3,000 Net income $ 25,000 $27,000 Based on this information, perform comparative and common-size analyses of the company’s performance for the two years presented. 2. Robin Company had $540,000 in sales on account last year. The accounts receivable balance increased from $30,000 at the beginning of the year to $54,000 at the end of the year. What was the company's average collection period (age of receivables)?
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3. During the year, Gardenia Company paid dividends of $30,000 on its preferred stock. The company's net income for the year was $360,000. Other selected financial data for the company includes the following: Account Balances Beginning of Year End of Year Common stock $900,000 $1,200,000 Preferred stock 375,000 375,000 Retained earnings 225,000 555,000 What is the company's return on common stockholders' equity for the year? 4.
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GNBExam16 - GNB 12e Practice Exam Chapter 16 Print these...

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