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Unformatted text preview: Total assets $10,000,000 Cost of goods sold 2,200,000 Average inventory 1,300,000 Interest expense 850,000 a. .59. b. 1.69. c. 2.59. d. 7.69. e. Not enough information is given. 89. Given these facts, calculate return on assets: Sales $8,200,000 Net income 3,050,000 Average total assets 7,100,000 Average total liabilities 3,500,000 a. 22%. b. 43%. c. 85%. d. 87%. e. Not enough information is given. 90. Given these facts, calculate return on equity: Sales $8,200,000 Net income 2,050,000 Average total assets 7,100,000 Average total liabilities 3,500,000 a. .29. b. .58. c..60. d. .71. e. Not enough information is given. 92. Which of the following is a type of brainstorming? a. Open brainstorming. b. Closed brainstorming. c. Lightning brainstorming. d. All of the above. 93. Which of the following ratios works well as a red flag for reporting problems and financial performance? Page 21 of 44 ...
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This note was uploaded on 07/16/2010 for the course ACCOUNTING 2301 taught by Professor Norton during the Summer '10 term at Academy of Design Tampa.
- Summer '10