Question Details

Holt Company reported the following on its income statement


1.	Last year Fuller Company had a net income of $410,000, income tax expense of $50,000, and interest expense of $34,000. The company's times-interest-earned ratio was closest to
a.	12.06.
b.	9.88.
c.	14.53.
d.	13.53.


	

	2.	Cottle Company has total assets of $180,000 and total liabilities of $54,000. The company's debt-to-equity ratio is closest to
a.	0.32.
b.	2.3.
c.	0.30.
d.	0.43.



3.	Opis Company has total assets of $475,000 and total liabilities of $130,000. The company's debt-to-equity ratio is closest to
a.	0.32.
b.	0.21.
c.	0.38.
d.	0.27.



	4.	Holt Company reported the following on its income statement:

Income before income taxes	$420,000
Income tax expense	  120,000
Net income	$300,000

An analysis of the income statement revealed that interest expense was $52,500. Holt Company's times-interest-earned ratio was
a.	9.
b.	8.
c.	7.
d.	6.


	

	5.	Presented below are selected data from the financial statements of Russell Corp. for 2014 and 2013.

	2014	2013
Net income	$100,000	$123,000
Cash dividends paid on preferred stock 	$12,000	$15,000
Cash dividends paid on common stock	$42,000	$38,000
Weighted average number of common shares outstanding	$105,000	$95,000

Earnings per share is reported on the 2014 income statement as
a.	$ 0.44.
b.	$ 0.55.
c.	$ 0.84.
d.	$ 0.95.





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