325 Words2 Pages

1. The relationship between current assets and current liabilities is important in evaluating a company's - liquidity. 2. Which of the following is a measure of liquidity? – working capital 3. Current assets divided by current liabilities is known as the – current ratio 4. Danner Corporation reported net sales of $600,000, $680,000, and $800,000 in the years 2011, 2012, and 2013, respectively. If 2011 is the base year, what percentage do 2013 sales represent of the base? – 133
2013 net sales / base year 2011 net sales = 800,000 / 600,000 = 1.33
1.33 x 100% = 133% 5. In analyzing financial statements, horizontal analysis is a- tool 6. Comparative balance sheets - are usually prepared for at least two years 7. Assume the following cost of goods sold data for a company:
2013 $1,500,000
2012 1,200,000
2011 1,000,000
If 2011 is the base year, what is the percentage increase in cost of goods sold from 2011 to 2013? – 50%
= New - Old Old 100
8. Comparisons of data within a company are an example of the following comparative basis: - Intracompany. 9. The following schedule is a display of what type of analysis? - Vertical analysis | Amount | Percent | Current assets | $100,000 | 25% | Property, plant, and equipment | 300,000 | 75% | Total assets | $400,000 | 100% | 10. A common measure of profitability is the - return on common stockholders' equity ratio 11. Which one of the following would be considered a long-term solvency ratio? - Debt to total assets ratio 12. The current ratio is - used to evaluate a company's liquidity and short-term debt paying ability 13. Richards, Inc. has the following income statement (in millions): RICHARDS, INC. | Income Statement | For the Year Ended December 31, 2012 | Net Sales | $180 |

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