43. True or False Consider two companies (A and B) with equal profit margins of 18%. Company A has an asset turnover of 1.2 and Company B has an asset turnover of 1.5. If all else is equal. Company B with its' higher asset turnover, is less profitable because it requires more revenue to turn its assets over. A) True B) False 44. The SEC adopted Regulation FD to curb public companies' practice of A) Routinely filing extensions for annual reports (Form 10-K) B) Selectively disclosing information C) Reporting pro forma (non-GAAP) numbers D) Hiring auditors for non-audit services such as consulting engagements E) None of these are correct 45. United Company's year-end balance sheet reported the following (in millions) Total Assets Total Liabilities Contributed Capital $100.228 78.713 8,933 What was United Company's total liabilities and stockholders' equity at December 31? A) $ 87,646 million B) $ 91,295 million C) $100,228 million D) $ 21,515 million 46. In its 2016 annual report, Malibu Inc. reported the following (in millions) on its year-end balance sheet Total liabilities Total shareholders' equity $4,086.0 $2,648.6 What proportion of Malibu Inc. is financed by nonowners? A) 60.7% B) 39.3% C) 64.8% D) 78.6% E) None of these are correct