Use the Following Selected Financial Information for Wilcox Corporation to Answer

question 37

Multiple Choice

Use the following selected financial information for Wilcox Corporation to answer questions . Wilcox Corporation
Income Statement
For the Year Ended December 31,2015
$\begin{array}{lr}\text { Net sales } & \$ 2,870 \\\text { Cost of goods sold } & 1,985\\\text { Gross profit } & \$ \overline{885} \\\text { Operating expenses } & 620\\\text { Operating profit } & \$ 265 \\\text { Interest expense } & 40\\\text { Earnings before taxes }&\$225\\\text { Income tax expense }&80\\\text { Net profit }&\$145\end{array}$ Wilcox Corporation
Balance Sheet
December 31, 2015
$\begin{array}{lclr}\text { Assets }&&\text { Liabilities and stockholders' equity }\\\hline\text { Current assets }&&\text { Current liabilities }\\\text { Cash } & \$ 25 & \text { Accounts payable } & \$ 85 \\\text { Short-term investments } & 15 & \text { Accrued liabilities } & 45 \\\text { Accounts receivable } & 70 & \text { Total current liabilities } & 130 \\\text { Inventory } & 150 & \text { Long-term debt } & 240\\\text { Total current assets }&260&\text { Total liabilities }&370\\\\\text { Long-term assets }&&\text { Stockholders' equity }\\\text { Net PPE } & 390 & \text { Common stock and PIC } & 80 \\\text { Goodwill } & 210 & \text { Retained earnings } & 410\\&&\text { Total stockholders' equity }&490\\\text { Total assets }&\$860&\text { Total liabilities and equity }&\$860\end{array}$ WilcoxCorporation
Statement of Cash Flow Information
For the Year Ended December 31, 2015

$\begin{array}{ll}\text { Cash from operating activities }&\$150\\\text { Investing activities: }\\\text { Capital expenditures } & \$ 60 \\\text { Acquisitions } & \$ 10\\\text { Financing activities: }\\\text { Proceeds from long-term borrowing } & \$ 50 \\\text { Payments on long-term borrowing } & \$ 25 \\\text { Payments of cash dividends } & \$ 20\\\text { Cash paid for interest } & \$ 10 \\\text { Cash paid for income taxes } & \$ 75\end{array}$
-Wilcox's debt ratio is:

• A)40.11%
• B)43.02%
• C)55.80%
• D)56.32%

Examine the causes of failure in the first English attempt to establish a permanent settlement in North America.

Explain the influence of prevailing winds on European maritime exploration, trade, and voyages of discovery.

Understand the role and nature of warfare in pre-Columbian Americas.

Analyze the impact and characteristics of trade initiated during the Columbian period.

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Definitions:

Sole Shareholder

An individual or entity that owns 100% of the shares of a corporation, maintaining complete control.

Corporate Assets

Resources or items of value owned by a corporation, including cash, property, and intellectual property, contributing to its overall worth.

Personal Liability

refers to the legal responsibility that individuals have to pay their debts from their own assets.

Enhancing Attributional Style

A cognitive approach aimed at altering the way one attributes causes to events, focusing on more positive or empowering explanations.