23) Assets Current Assets Cash Accounts receivable Inventories Other current assets Long-Term Assets Land Total current assets Buildings Equipment Less accumulated depreciation Net property, plant, and i equipment Goodwill Other long-term assets Total long-term assets A).75 B).72 C).65 D).70 Luther Corporation Consolidated Balance Sheet December 31, 2006 and 2005 (in $ millions) Liabilities and 2005 Stockholders' Equity 2006 57.6 55.2 45.6 5.6 164.0 66.4 108.3 114.3 Current Liabilities 58.5 Accounts payable 234.6 60.0 63.0 357.6 Notes payable / short-term 39.6 debt Current maturities of long- 42.9 term debt 3.0 Other current liabilities 144.0 Total current liabilities 62.1 91.5 Capital lease obligations 99.6 (54.4) (52.5) Deferred taxes Long-Term Liabilities Long-term debt 200.7 Other long-term liabilities Total long-term liabilities 42.0 Total liabilities 242.7 Stockholders' Equity 2006 86.0 10.5 39.6 6.0 142.1 231.3 22.8 www 254.1 396.2 125.4 2005 73.5 9.6 36.9 12.0 132.0 168.9. 22.2 Total liabilities and i 521.6 386.7 Stockholders' Equity Total Assets 521.6 386.7 Refer to the balance sheet above. If in 2005 Luther has 12.8 million shares outstanding and these shares are trading at $22.43 per share, then using the market value of equity, the debt-equity ratio for Luther in 2005 is closest to 191.1 323.1 63.6
23) Assets Current Assets Cash Accounts receivable Inventories Other current assets Long-Term Assets Land Total current assets Buildings Equipment Less accumulated depreciation Net property, plant, and i equipment Goodwill Other long-term assets Total long-term assets A).75 B).72 C).65 D).70 Luther Corporation Consolidated Balance Sheet December 31, 2006 and 2005 (in $ millions) Liabilities and 2005 Stockholders' Equity 2006 57.6 55.2 45.6 5.6 164.0 66.4 108.3 114.3 Current Liabilities 58.5 Accounts payable 234.6 60.0 63.0 357.6 Notes payable / short-term 39.6 debt Current maturities of long- 42.9 term debt 3.0 Other current liabilities 144.0 Total current liabilities 62.1 91.5 Capital lease obligations 99.6 (54.4) (52.5) Deferred taxes Long-Term Liabilities Long-term debt 200.7 Other long-term liabilities Total long-term liabilities 42.0 Total liabilities 242.7 Stockholders' Equity 2006 86.0 10.5 39.6 6.0 142.1 231.3 22.8 www 254.1 396.2 125.4 2005 73.5 9.6 36.9 12.0 132.0 168.9. 22.2 Total liabilities and i 521.6 386.7 Stockholders' Equity Total Assets 521.6 386.7 Refer to the balance sheet above. If in 2005 Luther has 12.8 million shares outstanding and these shares are trading at $22.43 per share, then using the market value of equity, the debt-equity ratio for Luther in 2005 is closest to 191.1 323.1 63.6
Essentials Of Investments
11th Edition
ISBN:9781260013924
Author:Bodie, Zvi, Kane, Alex, MARCUS, Alan J.
Publisher:Bodie, Zvi, Kane, Alex, MARCUS, Alan J.
Chapter1: Investments: Background And Issues
Section: Chapter Questions
Problem 1PS
Related questions
Question
Transcribed Image Text:23)
Assets
Current Assets
Cash
Accounts receivable
Inventories
Other current assets
Total current assets
Long-Term Assets
Land
Buildings
Equipment
Less accumulated
depreciation
Net property, plant, and
equipment
Goodwill
Other long-term assets
Total long-term assets
A).75
B).72
C).65
D).70
Luther Corporation
Consolidated Balance Sheet
December 31, 2006 and 2005 (in $ millions)
Liabilities and
2005 Stockholders' Equity
2006
57.6
55.2
45.6
5.6
164.0
66.4
108.3
114.3
Current Liabilities
58.5 Accounts payable
234.6
60.0
63.0
357.6
Notes payable/ short-term
39.6 debt
Current maturities of long-
42.9 term debt
3.0 Other current liabilities
144.0
Total current liabilities
Long-Term Liabilities
Long-term debt
62.1
91.5 Capital lease obligations
99.6
(54.4) (52.5) Deferred taxes
200.7 Other long-term liabilities
Total long-term liabilities
42.0 Total liabilities
242.7 Stockholders' Equity
2006
86.0
10.5
39.6
6.0
142.1
231.3
22.8
-
254.1
396.2
125.4
2005
73.5
9.6
36.9
12.0
132.0
168.9
22.2
www
191.1
323.1
63.6
Total liabilities and
Total Assets
521.6 386.7 Stockholders' Equity
521.6
386.7
Refer to the balance sheet above. If in 2005 Luther has 12.8 million shares outstanding and these shares are
trading at $22.43 per share, then using the market value of equity, the debt-equity ratio for Luther in 2005 is
closest to
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