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Multiple Choice Question 57<br />
Teakap, Inc., has current assets of $ 1,456,312 and total assets of $4,812,369 for the year ending September 30,<br />
2006. It also has current liabilities of $1,041,012, common equity of $1,500,000, and retained earnings of<br />
$1,468,347. How much long-term debt does the firm have?<br />
$2,303,010<br />
$2,123,612<br />
$803,010<br />
$1,844,022<br />
Multiple Choice Question 78<br />
Which of the following presents a summary of the changes in a firm’s balance sheet from the beginning of an<br />
accounting period to the end of that accounting period?<br />
The statement of net worth.<br />
The statement of retained earnings.<br />
The statement of cash flows.<br />
The statement of working capital.<br />
Multiple Choice Question 63<br />
Efficiency ratio: Gateway Corp. has an inventory turnover ratio of 5.6. What is the firm's days's sales in inventory?<br />
65.2 days<br />
61.7 days<br />
57.9 days<br />
64.3 days<br />
Multiple Choice Question 70<br />
Leverage ratio: Your firm has an equity multiplier of 2.47. What is its debt-to-equity ratio?<br />
1.47
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