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Refer to the data for Pettijohn Inc. What is the firm's quick ratio? 0.49 0.61 O 0.73 0.87 O 1.05 Pettijohn Inc. The balance sheet and income statement shown below are for Pettijohn Inc. Note that has no amortization charges, it does not lease any assets, none of its debt must be ret the next 5 years, and the notes payable will be rolled over. Refer to the data for Pettijohn Inc. What is the fırm's ROE? 8.99% O 9.91% O 8.54% O 9.44% 10.41%

Refer to the data for Pettijohn Inc. What is the firm's quick ratio? 0.49 0.61 O 0.73 0.87 O 1.05 Pettijohn Inc. The balance sheet and income statement shown below are for Pettijohn Inc. Note that has no amortization charges, it does not lease any assets, none of its debt must be ret the next 5 years, and the notes payable will be rolled over. Refer to the data for Pettijohn Inc. What is the fırm's ROE? 8.99% O 9.91% O 8.54% O 9.44% 10.41%

FINANCIAL ACCOUNTING
FINANCIAL ACCOUNTING
10th Edition
ISBN:9781259964947
Author:Libby
Publisher:Libby
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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Other data: Shares outstanding (millions) Common dividends 175.00 $ 509 83 Int rate on notes payable & L-T bonds Federal plus state income tax rate Year-end stock price 6.25% 35% $77.69 Question 2 Pettijohn Inc. The balance sheet and income statement shown below are for Pettijohn Inc. Note that the firm has no amortization charges, it does not lease any assets, none of its debt must be retired during the next 5 years, and the notes payable will be rolled over. Refer to the data for Pettijohn Inc. What is the firm's quick ratio? O 0.49 O 0.61 O 0.73 • 0.87 O 1.05 Pettijohn Inc. The balance sheet and income statement shown below are for Pettijohn Inc. Note that the firm has no amortization charges, it does not lease any assets, none of its debt must be retired during the next 5 years, and the notes payable will be rolled over. Refer to the data for Pettijohn Inc. What is the firm's ROE? O 8.99% O 9,91% O 8.54% O 9.44% O 10.41%
Transcribed Image Text:Other data: Shares outstanding (millions) Common dividends 175.00 $ 509 83 Int rate on notes payable & L-T bonds Federal plus state income tax rate Year-end stock price 6.25% 35% $77.69 Question 2 Pettijohn Inc. The balance sheet and income statement shown below are for Pettijohn Inc. Note that the firm has no amortization charges, it does not lease any assets, none of its debt must be retired during the next 5 years, and the notes payable will be rolled over. Refer to the data for Pettijohn Inc. What is the firm's quick ratio? O 0.49 O 0.61 O 0.73 • 0.87 O 1.05 Pettijohn Inc. The balance sheet and income statement shown below are for Pettijohn Inc. Note that the firm has no amortization charges, it does not lease any assets, none of its debt must be retired during the next 5 years, and the notes payable will be rolled over. Refer to the data for Pettijohn Inc. What is the firm's ROE? O 8.99% O 9,91% O 8.54% O 9.44% O 10.41%
Pettijohn Inc. The balance sheet and income statement shown below are for Pettijohn Inc. Note that the firm has no amortization charges, it does not lease any assets, none of its debt must be retired during the next 5 years, and the notes payable will be rolled over. Balance Sheet (Millions of $) Assets Cash and securities Accounts receivable Inventories Total current assets Net plant and equipment Total assets Liabilities and Equity Accounts payable Notes payable Accruals 2016 S 1,554.0 9,660.0 13,440.0 $24,654.0 17.346.0 $42,000.0 S 7,980.0 5,880.0 4,620.0 $18,480.0 10,920.0 $29 400.0 3,360.0 9,240.0 $12,600.0 $42,000.0 Total current liabilities Long-term bonds Total liabilities Common stock Retained earnings Total common equity Total liabilities and equity Income Statement (Millions of $) 2016 $58,800.0 $54,978.0 $ 1,029 0 $ 2,793.0 1.050 0 S 1,743.0 $ 610.1 $ 1,133.0 Net sales Operating costs except depr'n Depreciation Earnings bef int and taxes (EBIT) Less interest Earnings before taxes (EBT) Тахes Net income
Transcribed Image Text:Pettijohn Inc. The balance sheet and income statement shown below are for Pettijohn Inc. Note that the firm has no amortization charges, it does not lease any assets, none of its debt must be retired during the next 5 years, and the notes payable will be rolled over. Balance Sheet (Millions of $) Assets Cash and securities Accounts receivable Inventories Total current assets Net plant and equipment Total assets Liabilities and Equity Accounts payable Notes payable Accruals 2016 S 1,554.0 9,660.0 13,440.0 $24,654.0 17.346.0 $42,000.0 S 7,980.0 5,880.0 4,620.0 $18,480.0 10,920.0 $29 400.0 3,360.0 9,240.0 $12,600.0 $42,000.0 Total current liabilities Long-term bonds Total liabilities Common stock Retained earnings Total common equity Total liabilities and equity Income Statement (Millions of $) 2016 $58,800.0 $54,978.0 $ 1,029 0 $ 2,793.0 1.050 0 S 1,743.0 $ 610.1 $ 1,133.0 Net sales Operating costs except depr'n Depreciation Earnings bef int and taxes (EBIT) Less interest Earnings before taxes (EBT) Тахes Net income
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