The Following Are the Income Statements and Balance Sheets for Coors

question 5

Multiple Choice

The following are the income statements and balance sheets for Coors Company: $\begin{array}{ll}&20X2\\\text { Sales (onlycredit sales) } & \$ 1,606.0 \\\text { Less cost of goods sold } & \underline{1,062.0} \\\text { Gross profit } & \$ 544.0 \\\text { Less operating expenses } & 322.0\\\text { Operating income } & \$ 222.0 \\\text { Less other expense: Interest } & 9.6\\\text { Income before tax } & \$ 212.4 \\\text { Less income tax expense } & 85.0\\\text { Net income }&\$127.4\end{array}$
$\begin{array}{llllll}&20X2&20X1&&20X2&20X1\\\text { Current assets: } & & & \text { Current liab: } \\\text { Cash } & \$ 36 & \$ 38 & \text { Accts payable } & \$ 98 & \$ 64 \\\text { Accts receivable } & 180 & 144 & \text { W ages p ayable } & 18 & 16 \\\text { Inventory } & 120 & 100 & \text { Taxes payable } & 28 & 4 \\\text { Prep aid rent } & 20 & 24 & \text { Current portion } & &\\\begin{array}{l}\text { Total current as sets } \\\text { Long-term as sets: }\end{array} & \$ 356 & \$ 306 & \begin{array}{l}\text { of long- term debt } \\\text { Total current }\end{array} & \underline{30} & \underline{6} \\\text { Fixed ass ets } & \$ 320 & \$ 316 & \text { liabilities } & \$ 174 & \$ 90 \\\text { Accum. deprec. } & (206) & (180) & \text { Long-term liabilities } & 66 & 92\\\text { Total long- term } & \$ 114 & \$ 136 & \text { T otal liabilities } & \$ 240 & \$ 182\\\text { assets }\\&&&\text { Owners' equity: }\\\text { Common stock, } \$ 5 \text { par } &\$ 80 & \$ 80\\&&&\text { Retained income } & \underline{150} & \underline{180} \\&&&\text { T otal owners' equity } & \$ 230 & \$ 260\\&&&\text { T ot al liab. and }\\\text { Total assets } & \$ 470 & \$ 442 & \text { own. equity } & \$ 470 & \$ 442\end{array}$ December 31 market price per share: $120 $106 The return on stockholders' equity for Coors Company in 20X2 is:

• A) 55.4%
• B) 52.0%
• C) 49.0%
• D) 27.1%

Recognize when a contract is voidable due to material misrepresentation.

Identify the characteristics and formation of implied in fact contracts and express contracts.

Describe the basic requirements for a valid contract including the necessity of absence of invalidating conduct.

Comprehend when unilateral contracts are formed and how performance can signify acceptance.

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Definitions:

Idealized Influence

A leadership behavior characterized by acting as a strong role model with high ethical standards.

Extrinsic Motivation

Motivation driven by external rewards, such as money, fame, grades, or praise, rather than intrinsic enjoyment or interest in the task itself.

Authentic Leadership

A leadership style in which the leader is genuine, transparent, and ethical, and encourages open communication and values with followers.

Stimulates Follower Identification

In leadership, the ability to inspire followers to align their identity and interests with the leader and the collective goals of the organization.