Chapter 1.1, Problem 1AYU

Danzel Home Goods operates in the household goods industry, where stocks typically have an average P/E ratio of 9.2. Danzel recently reported a net income of $58,000 and has 62,000 shares of common stock outstanding. What is the estimated value of Danzel's stock using this information?

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COPO Corp. sells a single product. Budgeted annual sales are anticipated to be 250,000 units; the estimated beginning inventory is 20,000 units, and the desired ending inventory is 30,000 units. Each unit of finished product requires 4 pounds of direct materials at $5 per pound. There will be no changes in the direct materials inventory this year. What is the budgeted cost of direct materials to be used this year?

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Kenneth's Arrows and Bows borrow $15,000 for one year at 8% interest. What is the effective rate of interest if the loan is discounted? A. 8% B. 9.5% C. 8.7% D. 10.5%

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General accounting