The Following Question(s)refer to the Year-End Account Balances for UBUS

question 142

Essay

The following question(s)refer to the year-end account balances for UBUS, Inc. The accounts are listed in alphabetical order, NOT in the order they appear on the financial statements. The applicable tax rate is 40%.
UBUS Income Statement
UBUS Balance Sheet
a)What was UBUS Inc.'s earnings before interest and taxes (EBIT)?
a. $155
b. $120
c. $100
d. $215
e. $200
b)What is UBUS Inc.'s tax liability?
a. $48
b. $60
c. $55
d. $40
e. $35
c)What was UBUS Inc.'s Net Income?
a. $72
b. $45
c. $60
d. ($20)
e. $100
d)What is UBUS Inc.'s Total Assets?
a. $420
b. $570
c. $625
d. $450
e. $490
e)What is UBUS Inc.'s Total Equity?
a. $115
b. $120
c. $185
d. $205
e. $240
f)What is UBUS Inc.'s Net Working Capital?
a. $35
b. $70
c. $100
d. $130
e. $170

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Definitions:

α-Carbon

The carbon atom directly attached to a functional group in an organic molecule.

Racemic Mixtures

A mixture containing equal amounts of two enantiomers of a compound, making it optically inactive due to the canceling effect of the two forms' rotation of plane-polarized light.

Achiral

A term describing an object or molecule that is superposable on its mirror image; not chiral.

L-Aspartic Acid

A naturally occurring amino acid found in proteins and important for the biosynthesis of other amino acids and in the citric acid cycle.