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Module 3 1. Superior Medical System's 2005 balance sheet showed total common equity of $2,050,000. The company had 100,000 shares of stock outstanding which sold at a price of $57.25 per share. By how much did the firm's market value and book value per share differ? $36.75 ® O $51.00 O $39.50 O $38.25 O $40.25 PRACTICE EXERCISES: CHOOSE THE BEST OPTION 3. Over the years, O'Brien Corporation's stockholders have provided $20,000,000 of capital, when they purchased new issues of stock and allowed management to retain some of the firm's earnings. The firm now has 1,000,000 shares of common stock outstanding, and it sells at a price of $38.50 per share. How much value has O'Brien’s management added to stockholder wealth over the years, i.e., what is O'Brien's MVA? O $19,500,000 © $19,000,000 @ $18,500,000 © $20,500,000 ) $20,000,000

PRACTICE EXERCISES: CHOOSE THE BEST OPTION 4. Marcus Nurseries Inc.'s 2005 balance sheet showed total common equity of $2,050,000, which included $1,750,000 of retained earnings. The company had 100,000 shares of stock outstanding which sold at a price of $57.25 per share. If the firm had net income of $250,000 in 2006 and paid out $100,000 as dividends, what would its book value per share be at the end of 2006, assuming that it neither issued nor retired any common stock? O $19.00 O $21.00 © $22.00 O $23.00 ) $20.00 S 5. Lennox Furniture Company's 2005 balance sheet showed total current assets of $1,500,000. All of the current assets were required in operations, and its current liabilities consisted of $300,000 of accounts payable, $200,000 of 6% short-term notes payable to the bank, and $100,000 of accrued wages and taxes. What was the net operating working capital that was financed by investors at the end of 2005? O $1,300,000 O $1,200,000 @ $1,100,000 O $1,400,000 O $1,500,000 e

6. Companies generate income from their "regular” operations and from things like interest on securities they hold, which is called non-operating income. Mitel Metals recently reported $9,000 of sales, $6,000 of operating costs other than depreciation, and $1,500 of depreciation. The company had no amortization charges and no non-operating income. It had issued $4,000 of bonds that carry a 7% interest rate, and its federal-plus-state income tax rate was 40%. What was the firm's operating income, or EBIT? O $1,100 O $1,300 O $1,400 @ $1,500 O $1,200 PRACTICE EXERCISES: CHOOSE THE BEST OPTION 7. Madison Metals recently reported $9,000 of sales, $6,000 of operating costs other than depreciation, and $1,500 of depreciation. The company had no amortization charges and no non-operating income. It had issued $4,000 of bonds that carry a 7% interest rate, and its federal-plus-state income tax rate was 40%. What was the firm's taxable, or pre-tax, income? O $1,340 O $1,260 © $1,220 O $1,300 O $1,180

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8. Temple Square Inc. reported that its retained earnings for 2005 were $490,000. In its 2006 financial statements, it reported $60,000 of net income, and it ended 2006 with $510,000 of retained earnings. How much were paid as dividends to shareholders during 20067 O $20,000 © $40,000 O $30,000 O $35,000 O $25,000 9. Fine Breads Inc. paid out $26,000 common dividends during 2005, and it ended the year with $150,000 of retained earnings. The prior year's retained earnings were $145,500. What was the firm's 2005 net income? @ $31,000 O $32,000 O $30,000 O $33,000 ) $34,000

10. Reliable Safe Company's 2005 balance sheet showed total current assets of $1,500,000 plus $3,000,000 of net fixed assets. All of these assets were required in operations. The firm had $600,000 of current liabilities, including $300,000 of accounts payable, $200,000 of 6% short- term notes payable to the bank, and $100,000 of accrued wages and taxes. It also had $1,500,000 of long-term bonds, $300,000 of common stock, and $1,750,000 of retained earnings. What was total amount of investor-provided operating capital at the end of 2005? © $4,000,000 © $4,100,000 © $4,300,000 © $4,200,000 ) $3,900,000 v 2. Shop-Til-You-Drop Inc. recently reported net income of $5.2 million and depreciation of $600,000. What is was net cash flow? Assume it has no amortization expense. " O $6,000,000 O $5,800,000 @ $5,600,000 © $6,200,000 *

Self Assesment 4 1. Ramala Corp's sales last year were $48,000, and its total assets were $25,500. What was its total assets turnover ratio (TATO)? 1.99 1.88 O @ O 132 1.10 0 O 1.21 PRACTICE EXERCISES: CHOOSE THE BEST OPTION 2. Ruby Corp's sales last year were $435,500, its operating costs were $350,000, and its interest charges were $10,000. What was the firm's times interest earned (TIE) ratio? 8.68 8.55 8.81 O 0 @ O 8.42 O 8.29

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3. Roberts Corp's sales last year were $300,000, and its net income after taxes was $25,000. What was its profit margin on sales? O 7.82% O 7.65% O 8.16% © 833% O 7.99% PRACTICE EXERCISES: CHOOSE THE BEST OPTION 4. Reynolds Corp's total assets at the end of last year were $300,000 and its net income after taxes was $25,000. What was its gr@urn on total assets? Correct That's right! You selected the correct response. [ Continue J ?(:33 osm;

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Topic 1: Financial Markets1. You are among the OTC market makers in the stock of Nvidia and quote a bid of$102.25 and an ask of $102.50. Suppose that you have a zero inventory.(a) On Day 1 you receive market buy orders for 10,000 shares and market sell ordersfor 4,000 shares. How much do you earn on the 4,000 shares that you bought and sold?What is the value of your inventory at the end of the day? (Hints: It is possible tohave negative inventory, e.g., by short-selling. Further, there is more than one correctway to value an inventory, but please state what assumption your valuation is basedon.)(b) Before trading begins on Day 2 the company announces promising new GPU technology. The quoted bid and ask jump to $110.25 and $110.50, respectively. DuringDay 2 you receive market sell orders for 8,000 shares and buy orders for 2,000 shares.What is your total profit or loss over the two-day period? What is the value of yourinventory at the end of Day 2?(c) What is a market maker’s objective?…

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3. Flimsy Safe Room’s, Inc. has total assets of $1,000,000. The firm has $100,000 in inventory. It has $300,000 in long-term debt and $400,000 in current assets. The common stockholders’ equity is $400,000. The firm does not have any preferred stock outstanding. What is Flimsy Safe Room's quick ratio? Question 3 options: A) 2 = 200% B) 1.00 = 100% C) 1.5 = 150% D) 0.5 = 50%

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2:25 1 LTE What is the rate of return when 25 shares of Stock A, purchased for $30/share, are sold for $825? The commission on the sale is $6. Skip Rate of Return = [ ? ] % Give your answer as a percent rounded to the nearest tenth. Enter Done W e r y u ор a S d f g h j k C V n m 123 space return Help Resources

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2.Flimsy Safe Room’s, Inc. has total assets of $1,000,000. The firm has $100,000 in inventory. It has $300,000 in long-term debt and $400,000 in current assets. The common stockholders’ equity is $400,000. The firm does not have any preferred stock outstanding. What is Flimsy Safe Room's current ratio? Question 2 options: A) 2 = 200% B) 1.40 = 140% C) 0.60 = 60% D) 1.33 = 133%

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