31) The net income for the year ended was $300,000. Common shareholders' equity at the end of the year was $1,600,000 and $1,400,000 at the beginning of the year. The return on common shareholders' equity would be __________.
32) Rick's has a cash balance of $80,000; short-term investments of $20,000; net receivables of $60,000; and inventory of $450,000. Current liabilities total $200,000. Ricks' acid test (quick ratio) is within __________.
33) Topiary's Unlimited has a cost of goods sold of $1,600,000. The beginning merchandise inventory was $195,000 and the ending merchandise inventory is $205,000. Topiary's merchandise inventory turnover ratio is __________.
34) Amanda's has a cost of goods sold of $1,900,000. The beginning and ending merchandise inventories are $133,000 and $125,000, respectively. Amanda's merchandise inventory turnover ratio is __________.
35) Interest expense was $10,000; income tax expense was $20,000; and net income after taxes is $60,000. The number of times interest was earned is __________.
36) What is Jane's rate of return on total assets if average total assets are $100,000; net income is $2,000; interest expense if $1,600; and income tax is $2,000?
37) What is the rate of return on equity if net income is $22,700; preferred dividends are $3,000; sales are $100,000; and average common shareholders' equity is $86,000?
38) Casey Company reported the following for 2010:
Net sales: $345,000
Net income: $29,600
Market price per common share: $35.50
Preferred dividends paid: $2,300
Number of common shares outstanding: 125,000
What are the earnings per share for Casey Company (to the nearest cent)?
39) Casey Company reported the following for 2011:
Net sales: $220,000
Net income: $37,000
Market price per common share: $35.50
Preferred dividends paid: $4,100
Number of common shares: 10,000
What are the earnings per share for Casey Company (to the nearest cent)?
40) Michele Company reported the following for 2010:
Earnings/share of $19.23
Market price per common share: $67.00
Number of common shares outstanding: 75,000
Net income: $54,000
Preferred dividends paid: $2,200
Dividends/share: $6.73
What is the dividend yield for Michele Company (to the nearest tenth of a percent)?
41) What would an acid test (quick ratio) of 0.75 indicate?
42) Tammy Company has a beginning accounts receivable balance of $65,000 and an ending accounts receivable balance of $60,000. Net credit sales are $250,000. Tammy's accounts receivable turnover rate is __________.
43) A company has $56,000 in cash; $12,000 in accounts receivable; $25,000 in short-term investments; and $100,000 in merchandise inventory. The company also has $60,000 in current liabilities. The company's quick ratio is __________.
44) With a beginning accounts receivable balance of $80,000; an ending accounts receivable balance of $120,000; and net credit sales of $900,000; the accounts receivable turnover is __________.