Question: 1. In its recent income statement, Smith Software Inc. reported $29 million of net income, and in its year-end balance sheet, Smith reported $385 million

1. In its recent income statement, Smith Software Inc. reported $29 million of net income, and in its year-end balance sheet, Smith reported $385 million of retained earnings. The previous year, its balance sheet showed $371 million of retained earnings. What were the total dividends paid to shareholders during the most recent year? (Answers are in $ millions.)

	$29.00
	$14.00
	$15.00
	$12.00
	$36.00

2. AAA's inventory turnover ratio is 20.00 based on sales of $28,400,000. The firm's current ratio equals 4.16 with current liabilities equal to $820,000. What is the firm's quick ratio? (Round your answer to two decimal places.)

	1.38
	4.16
	3.43
	2.43
	5.13

3. You are given the following information: Stockholders' equity = $288 million; price/earnings ratio = 25; shares outstanding = 9,680,000; and market/book ratio =4.51. Calculate the market price of a share of the company's stock..

	$29.75
	$134.18
	$104.43
	$143.89
	$27.43

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