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X Paragraph Styles Dicta 5 3. Multiple Choice Questions (3 points each): Luca Computer Company Balance Sheet December 31, 2019 Assets: Cash 40,000 AR 60,000 Inventory 90,000 Plant & Equipment 220,000 Total Assets 410.000 Liabilities & Stockholders' Equity: AP 60,000 Accrued Liabilities 40,000 LT Debt 1130,000 Common Stock 60,000 PIC in excess of par, Com stk. 20,000 Retained Earnings 100.000 Total Liabilities and S.E. 410.000 Luca Computer Company Income Statement For the year ended December 31, 2019 Sales fall on credit) COGS Gross Profit S&A Exp Depreciation Exp EBIT Int. Exp EBT Tax Exp. (34%) EAT 720,000 500.000 220,000 20,000 40.000 160,000 16.000 144,000 48.960 25.0 Insert Draw Design Layout References >> Tell me co Share Calibri (Bo... 11 ' Aa v B I Uab XX ADA Paragraph Styles Dictate Se 2 6 From the preceding statements, please circle the best answer in the following multiple-choice questions. 1. Return of Assets for Jackson is approximately: a. 15% b. 23% C. 29% d. 35% EAT/Total Assets 95,040/410,000-23.18% or 23% 2. Times interest earned is: a. 4.5 b. 9X C. 11X d. 10X Time interest earned = EBIT/Interest 160,000/16,00d = 10 3. Current ratio is: 1.9:1 b. 1.625:1 c. 1.5:1 d. 3.2:1 Current ratios current Assets/current liabilities - 410,000/230,000 4 Debt to Asset ratio is: a 56.1% b47.22% C33.33% d. None of the above 5. What is lackson's Total Asset Turnover 4.5% b.3.6 2x d 1