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117. Tempel Corporation has provided the following data:
Year 2 Year 1
Common stock, $4 par value $240,000 $240,000
Total stockholders' equity $817,000 $810,000
Net operating income $36,714
Net income before taxes $17,714
Net income $12,400
The market price of common stock at the end of Year 2 was $2.77 per share. The company's
price-earnings ratio for Year 2 is closest to:
118. Keyton Corporation's net operating income in Year 2 was $43,714, net income before
taxes was $30,714, and the net income was $21,500. Total common stock was $200,000 at the
end of both Year 2 and Year 1. The par value of common stock is $4 per share. The company's
total stockholders' equity at the end of Year 2 amounted to $1,148,000 and at the end of Year 1
to $1,130,000. The company declared and paid $3,500 dividends on common stock in Year 2. The
market price per share was $8.43 at the end of Year 2. The company's dividend payout ratio for
Year 2 is closest to:
119. Rawdon Corporation's net operating income in Year 2 was $52,429, net income before
taxes was $34,429, and the net income was $24,100. Total common stock was $360,000 at the
end of both Year 2 and Year 1. The par value of common stock is $4 per share. The company's
total stockholders' equity at the end of Year 2 amounted to $976,000 and at the end of Year 1 to
$960,000. The company's earnings per share for Year 2 is closest to:
120. Leflore Corporation has provided the following data:
Year 2 Year 1
Common stock, $5 par value $500,000 $500,000
Total stockholders' equity $1,016,000 $1,010,000
Net operating income $35,143
Net income before taxes $17,143
Net income $12,000
Dividends on common stock during Year 2 totaled $6,000. The market price of common stock at
the end of Year 2 was $1.38 per share. The company's dividend yield ratio for Year 2 is closest to:
121. Cameron Corporation had 50,000 shares of common stock issued and outstanding that it
originally issued for $40 per share. The following information pertains to these shares:
Book value at end of current year $70
Market value, beginning of current year $85
Market value, end of current year $90
The total dividend on common stock for the year was $400,000. Cameron Corporation's dividend
yield ratio for the year was:
122. Hernande Corporation has provided the following data:
Year 2 Year 1
Common stock, $4 par value $400,000 $400,000
Net operating income $75,429
Net income before taxes $61,429
Net income $43,000
The company's earnings per share for Year 2 is closest to:
123. Delfavero Corporation has provided the following data:
Year 2 Year 1
Common stock, $2 par value $140,000 $140,000
Total stockholders' equity $953,000 930,000
Net operating income $55,462
Net income before taxes $36,462
Net income $23,700
The company's earnings per share for Year 2 is closest to:
124. Groeneweg Corporation has provided the following data:
Year 2 Year 1
Common stock, $2 par value $100,000 $100,000
Total stockholders' equity $1,129,000 $1,100,000
Net operating income $61,538
Net income before taxes $51,538
Net income $33,500
Dividends on common stock during Year 2 totaled $4,500. The market price of common stock at
the end of Year 2 was $9.45 per share. The company's dividend payout ratio for Year 2 is closest
to:
125. Spincic Corporation has provided the following data:
Year 2 Year 1
Common stock, $2 par value $200,000 $200,000
Net operating income $66,769
Net income before taxes $50,769
Net income $33,000
The market price of common stock at the end of Year 2 was $4.13 per share. The company's
price-earnings ratio for Year 2 is closest to:
126. Kovack Corporation's net operating income in Year 2 was $66,571, net income before
taxes was $46,571, and the net income was $32,600. Total common stock was $120,000 at the
end of both Year 2 and Year 1. The par value of common stock is $2 per share. The company's
total stockholders' equity at the end of Year 2 amounted to $962,000 and at the end of Year 1 to
$930,000. The company declared and paid $600 dividends on common stock. The market price
per share was $4.37. The company's dividend yield ratio for Year 2 is closest to:
127. Uhri Corporation has provided the following data:
Year 2 Year 1
Common stock, $4 par value $320,000 $320,000
Net operating income $71,429
Net income before taxes $51,429
Net income $36,000
Dividends on common stock during Year 2 totaled $4,000. The market price of common stock at
the end of Year 2 was $6.08 per share. The company's dividend payout ratio for Year 2 is closest
to:
128. Sabino Corporation's total common stock was $500,000 at the end of both Year 2 and
Year 1. The par value of common stock is $5 per share. The company's total stockholders' equity
at the end of Year 2 amounted to $1,125,000 and at the end of Year 1 to $1,090,000. The
company's total liabilities and stockholders' equity at the end of Year 2 amounted to $1,581,000
and at the end of Year 1 to $1,540,000. The company's retained earnings at the end of Year 2
amounted to $545,000 and at the end of Year 1 to $510,000. The company's net income in Year 2
was $39,000. The company's book value per share at the end of Year 2 is closest to:
129. Nickolls Corporation has provided the following financial data:
Cash $188,000
Accounts receivable $285,000
Total current assets $709,000
Total current liabilities $167,000
The company's working capital is:
130. Nickolls Corporation has provided the following financial data:
Cash $188,000
Accounts receivable $285,000
Total current assets $709,000
Total current liabilities $167,000
The company's current ratio is closest to:
131. Nickolls Corporation has provided the following financial data:
Cash $188,000
Accounts receivable $285,000
Total current assets $709,000
Total current liabilities $167,000
The company's acid-test (quick) ratio is closest to:
13-96
132. Macmillan Corporation has provided the following financial data:
Balance Sheet
December 31, Year 2 and Year 1
Assets Year 2 Year 1
Current assets:
Cash $156,000 $120,000
Accounts receivable 268,000 280,000
Inventory 146,000 130,000
Prepaid expenses 20,000 20,000
Total current assets 590,000 550,000
Plant and equipment, net 732,000 760,000
Total assets $1,322,000 $1,310,000
Liabilities and Stockholders' Equity
Current liabilities:
Accounts payable $175,000 $180,000
Accrued liabilities 46,000 50,000
Notes payable, short term 80,000 80,000
Total current liabilities 301,000 310,000
Bonds payable 190,000 190,000
Total liabilities 491,000 500,000
Stockholders' equity:
Common stock, $5 par value 450,000 450,000
Additional paid-in capital-common stock 70,000 70,000
Retained earnings 311,000 290,000
Total stockholders' equity 831,000 810,000
Total liabilities & stockholders' equity $1,322,000 $1,310,000
Income Statement—Year 2
For the Year Ended December 31, Year 2
Sales (all on account) $1,390,000
Cost of goods sold 830,000
Gross margin 560,000
Operating expenses 500,615
Net operating income 59,385
Interest expense 16,000
Net income before taxes 43,385
Income taxes (35%) 15,185
Net income $28,200
Dividends on common stock during Year 2 totaled $7,200. The market price of common stock at
the end of Year 2 was $3.69 per share.
The company's working capital at the end of Year 2 is:
13-98
133. Macmillan Corporation has provided the following financial data:
Balance Sheet
December 31, Year 2 and Year 1
Assets Year 2 Year 1
Current assets:
Cash $156,000 $120,000
Accounts receivable 268,000 280,000
Inventory 146,000 130,000
Prepaid expenses 20,000 20,000
Total current assets 590,000 550,000
Plant and equipment, net 732,000 760,000
Total assets $1,322,000 $1,310,000
Liabilities and Stockholders' Equity
Current liabilities:
Accounts payable $175,000 $180,000
Accrued liabilities 46,000 50,000
Notes payable, short term 80,000 80,000
Total current liabilities 301,000 310,000
Bonds payable 190,000 190,000
Total liabilities 491,000 500,000
Stockholders' equity:
Common stock, $5 par value 450,000 450,000
Additional paid-in capital-common stock 70,000 70,000
Retained earnings 311,000 290,000
Total stockholders' equity 831,000 810,000
Total liabilities & stockholders' equity $1,322,000 $1,310,000
Income Statement—Year 2
For the Year Ended December 31, Year 2
Sales (all on account) $1,390,000
Cost of goods sold 830,000
Gross margin 560,000
Operating expenses 500,615
Net operating income 59,385
Interest expense 16,000
Net income before taxes 43,385
Income taxes (35%) 15,185
Net income $28,200
Dividends on common stock during Year 2 totaled $7,200. The market price of common stock at
the end of Year 2 was $3.69 per share.
The company's current ratio at the end of Year 2 is closest to:
13-100
134. Macmillan Corporation has provided the following financial data:
Balance Sheet
December 31, Year 2 and Year 1
Assets Year 2 Year 1
Current assets:
Cash $156,000 $120,000
Accounts receivable 268,000 280,000
Inventory 146,000 130,000
Prepaid expenses 20,000 20,000
Total current assets 590,000 550,000
Plant and equipment, net 732,000 760,000
Total assets $1,322,000 $1,310,000
Liabilities and Stockholders' Equity
Current liabilities:
Accounts payable $175,000 $180,000
Accrued liabilities 46,000 50,000
Notes payable, short term 80,000 80,000
Total current liabilities 301,000 310,000
Bonds payable 190,000 190,000
Total liabilities 491,000 500,000
Stockholders' equity:
Common stock, $5 par value 450,000 450,000
Additional paid-in capital-common stock 70,000 70,000
Retained earnings 311,000 290,000
Total stockholders' equity 831,000 810,000
Total liabilities & stockholders' equity $1,322,000 $1,310,000
Income Statement—Year 2
For the Year Ended December 31, Year 2
Sales (all on account) $1,390,000
Cost of goods sold 830,000
Gross margin 560,000
Operating expenses 500,615
Net operating income 59,385
Interest expense 16,000
Net income before taxes 43,385
Income taxes (35%) 15,185
Net income $28,200
