The balance sheets at the end of each of the first two years of operations indicate the following:

Kellman Company
Year 2 Year 1
Total current assets $612,473 $586,773
Total investments 68,639 48,923
Total property, plant, and equipment 862,028 688,979
Total current liabilities 104,393 88,141
Total long-term liabilities 320,158 239,837
Preferred 9% stock, $100 par 96,409 96,409
Common stock, $10 par 521,256 521,256
Paid-in capital in excess of par-common stock 66,123 66,123
Retained earnings 434,801 312,909
Using the balance sheets for Kellman Company, if net income is $110,515 and interest expense is $38,444 for Year 2, and the market price of common shares is $39, what is the price-earnings ratio on common stock for Year 2 (rounded to two decimal places)?

Lynch company manufactures and sells a single product. the following costs were incurred during the company’s first year of operations: variable costs per unit: manufacturing: direct materials $ 12 direct labor $ 6 variable manufacturing overhead $ 1 variable selling and administrative $ 1 fixed costs per year: fixed manufacturing overhead $ 308,000 fixed selling and administrative $ 218,000 during the year, the company produced 28,000 units and sold 15,000 units. the selling price of the company’s product is $56 per unit. required: 1. assume that the company uses absorption costing: a. compute the unit product cost. b. prepare an income statement for the year. 2. assume that the company uses variable costing: a. compute the unit product cost. b. prepare an income statement for the year.

Factors like the unemployment rate, the stock market, global trade, economic policy, and the economic situation of other countries have no influence on the financial status of individuals. ( t or f)

How does the federal reserve stabilize and safeguard the nation’s economy? (select all that apply.) it distributes currency and oversees fiscal conditions. it implements american monetary policy. it regulates banks and defends consumer credit rights. it regulates and oversees the nasdaq stock exchange.