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Net sales are $3.000.000, beginning total assets are $1.400.000, and the asse ending total asset balance? 500 de Select one: a $1,000,000 * $600,000 V Use the formula: asset turnover sales /overage assets total assets at start of the year plus total assets at end of year divided by 2 c. $1,400,000 d $800,000 e. None of the above The correct answer is: $600,000 10 Smoitz Company had $375,000 of current assets and $135,000 of current from the bank with a 3 month note payable. What effect did the borrowing trans Smoitz Company's working capital? Select one: a. No effect No effect. Working capital comprises current assets - Cun increase Cash goes up since they got money but a liability also increases current assets and current liabilities increase by the same amount b. $90,000 increase c. $135,000 increase d $90,000 decrease e. None of the above The correct answer is: No effect The next three questions are based on this information. The Income Statement ended December 31, 201X appears below: Sales $610,000. Cost of goods sold $380,000. Expenses $197.000. Assumet agreement for this period with the IRS. You are provided with the additional info outstanding on January 1, 201X was 50,000 shares. On July 1, 10,000 more sl price of Pine's stock was $12 at the end of 201X. What is the earnings per sha 201X? Select one: a $0.40 b. $0.60 Use formula, EPS = net income / weighted number of shares The shares are 50,000 issues at start of year. In July 10,000 issued The 6/12. There are 12 months in a year and the additional 10,000 was around c. $0.80 d $120 e. None of the above The correct answer is: $0.60 Net sales are $3.000.000, beginning total assets are $1.400.000, and the asse ending total asset balance? 500 de Select one: a $1,000,000 * $600,000 V Use the formula: asset turnover sales /overage assets total assets at start of the year plus total assets at end of year divided by 2 c. $1,400,000 d $800,000 e. None of the above The correct answer is: $600,000 10 Smoitz Company had $375,000 of current assets and $135,000 of current from the bank with a 3 month note payable. What effect did the borrowing trans Smoitz Company's working capital? Select one: a. No effect No effect. Working capital comprises current assets - Cun increase Cash goes up since they got money but a liability also increases current assets and current liabilities increase by the same amount b. $90,000 increase c. $135,000 increase d $90,000 decrease e. None of the above The correct answer is: No effect The next three questions are based on this information. The Income Statement ended December 31, 201X appears below: Sales $610,000. Cost of goods sold $380,000. Expenses $197.000. Assumet agreement for this period with the IRS. You are provided with the additional info outstanding on January 1, 201X was 50,000 shares. On July 1, 10,000 more sl price of Pine's stock was $12 at the end of 201X. What is the earnings per sha 201X? Select one: a $0.40 b. $0.60 Use formula, EPS = net income / weighted number of shares The shares are 50,000 issues at start of year. In July 10,000 issued The 6/12. There are 12 months in a year and the additional 10,000 was around c. $0.80 d $120 e. None of the above The correct answer is: $0.60

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