Selected financial information for Lambert Company is presented in the following table. Sales $840,000.00 Cost of Merchandise Sold $400,000.00 Total Operating Expenses $360,000.00 Net Income after Federal Income Taxes $68,000.00 Quick Assets $38,000.00 Current Assets $95,000.00 Total Assets $175,000.00 Total Liabilities (all current) $25,000.00 Dividends per Share $3.00 Market Price $60.00 Number of Shares Outstanding 10,000 For each of the following items, select the choice in the Answers column that best completes the statement. Answers 1. The earnings per share is (A) $3.00 (B) $14.70 (C) $6.80 (D) 8.1% (p. 533) 1. 2. The debt ratio is (A) 26.3% (B) 14.3% (C) 7.00 (D) 17.0% (p. 526) 2. 3. The current ratio is (A) $70,000.00 (B) 0.74 (C) 54.3% (D) 3.80 (p. 535) 3. 4. The dividend yield is (A) 5.00% (B) 0.03% (C) 20.00% (D) 10.00% (p. 534) 4. 5. The gross margin is (A) 42.9% (N) 9.5% (C) 52.4% (D) 54.3% (p. 518) 5. 6. The price-earnings ratio is (A) 8.8 (B) 17.6 (C) 5.0% (D) 11.3% (p. 534) 6. 7. The operating margin is (A) 19.0% (N) 42.9% (C) 54.3% (D) 9.5% (p. 519) 7. 8. The working capital is (A) $95,000.00 (B) $70,000.00 (C) $120,000.00 (D) 26.3% (p. 535) 8. 9. The operating expense ratio is (A) 54.3% (B) 47.6% (C) 42.9% (D) 9.5% (p. 519) 9. 10. The gross profit margin is (A) 52.4% (B) 54.3% (C) 47.6% (D) 42.9% (p. 518) 10. 11. The quick ratio is (A) 0.4 (B) 1.5 (C) 0.2 (D) 2.5 (p. 535) 11.'

Balance sheet baggett company's balance sheet accounts and amounts as of december 31, 2016, are shown in random order as follows: account debit (credit) account debit (credit) income taxes payable $(3,800) additional paid-in capital on preferred prepaid items 1,800 stock $(7,900) additional paid-in capital on common stock (9,300) allowance for doubtful accounts (1,600) land 12,200 bonds payable (due 2020) (23,000) notes payable (due 2019) (6,000) buildings 57,400 notes receivable (due 2018) 16,400 sinking fund to retire bonds payable 5,000 accounts receivable 12,600 advances from customers (long-term) (2,600) premium on bonds payable (1,400) cash 4,300 accounts payable (13,100) accumulated depreciation: equipment (9,700) inventory 7,400 retained earnings (18,300) accumulated depreciation: buildings (21,000) preferred stock, $100 par (18,600) patents (net) 4,600 wages payable (1,400) equipment 28,700 common stock, $10 par (12,700) required: 1. prepare a december 31, 2016 balance sheet for the baggett. baggett company balance sheet december 31, 2016 assets current assets: $ $ $ long-term investments: $ property, plant, and equipment: $ $ $ intangible assets: liabilities current liabilities: $ $ long-term liabilities: $ $ other liabilities: shareholders' equity contributed capital: $ $ $ $ 2. compute the debt-to-assets ratio. round to one decimal place. do not enter a percent sign (%) as part of your answer. %

Assume that the following conditions exist: a. all banks are fully loaned up- there are no excess reserves, and desired excess reserves are always zero. b. the money multiplier is 5 .     c. the planned investment schedule is such that at a 4 percent rate of interest, investment =$1450 billion. at 5 percent, investment is $1420 billion. d. the investment multiplier is 3 . e.. the initial equilibrium level of real gdp is $12 trillion. f. the equilibrium rate of interest is 4 percent now the fed engages in contractionary monetary policy. it sells $1 billion worth of bonds, which reduces the money supply, which in turn raises the market rate of interest by 1 percentage point. calculate the decrease in money supply after fed's sale of bonds: $nothing billion.

At the end of the current year, accounts receivable has a balance of $550,000; allowance for doubtful accounts has a credit balance of $5,500; and sales for the year total $2,500,000. an analysis of receivables estimates uncollectible receivables as $25,000. determine the net realizable value of accounts receivable after adjustment. (hint: determine the amount of the adjusting entry for bad debt expense and the adjusted balance of allowance of doubtful accounts.)