Questions Are Based on the Following Information

question 85

Multiple Choice

Questions are based on the following information.
Layne Corporation had the following information in its financial statements for the years ended 2010 and 2011:

-What is the payout ratio for Layne Corporation for the year ended 2011?

• A)24.7%
• B)16.1%
• C)10.3%
• D)8.6%

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Definitions:

Accumulated Depreciation

The total amount of depreciation expense that has been recorded against a fixed asset over its useful life.

Balance Sheet

A financial statement that summarizes a company's assets, liabilities, and shareholders' equity at a specific point in time, providing a snapshot of its financial condition.

Sales

The transactions involving the exchange of goods or services for money, contributing to a company's revenue.

Functional Currency

The currency of the primary economic environment in which an entity operates, usually the currency in which it generates and spends cash.