Orca Industries
Below Are the Two Most Recent Balance Sheets

question 14

Multiple Choice

Orca Industries
Below are the two most recent balance sheets and most recent income statement for Orca Industries.The company has an effective tax rate of 35%.
Balance Sheet
$\begin{array}{l}\begin{array}{lll}\\\text {Assets:}\\\text {Cash}\\\text {Accounts Receivable (net) }\\\text {Inventory}\\\text {Long-lived assets}\\\text {Less: Accumulated depreciation}\\\text {Total assets}\\\end{array}\begin{array}{lll}2011&2010\\\\\$ 10,000 & \$ 6,000 \\6,000 & 1,500 \\8,000 & 10,000 \\12,000 & 11,000 \\\underline{(4,000) } & \underline{(2,000) } \\\underline{\$ 32,000 }& \underline{\$ 26,500}\end{array}\end{array}$


$\text { Liabilities and Stockholders' Equity: }$
$\begin{array}{lrr}\text { Accounts payable } & \$ 5,000 & \$ 6,000 \\\text { Deferred revenues } & 1,000 & 2,000 \\\text { Long-term note payable } & 10,000 & 10,000 \\\text { Less: Discount on note payable } & (800) & (1,000) \\\text { Common stock } & 12,000 & 6,000 \\\text { Retained earnings } &\underline{ 4,800 }&\underline{3,500}\\\text { Total liabilities and stockholders' equity } &\underline{ \$ 32.000 }&\underline{ \$ 26,500}\\\end{array}$


Income Statement
For the year ended December 31, 2011
$$\begin{array}{l}\begin{array} { l } \text { Revenues }& \$42,000 \\\text { Cast af goods sold }&( 24,000 ) \\\text { Depreciation expense } &( 2,000 ) \\\text { Interest expense } &( 3,000 ) \\\text { Bad debt exanense }&( 2,000 ) \\\text { Other expense (including income taxes) }&\underline{(9,000) } \\\text { Net incame }&\underline{\$2,000}\end{array}\\\begin{array} { l } \end{array}\end{array}$$
-Refer to the information for Orca Industries.Orca's basic earnings per share is:

• A) .22
• B) .13
• C) .25
• D) .30

Understand the role of serotonin in both eating disorders and other psychological disorders.

Identify environmental and biological factors contributing to obesity and eating disorders.

Comprehend the impact of societal views on obesity and eating disorders.

Understand the role of the hypothalamus and GLP-1 in controlling eating behaviors.

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Definitions:

Autonomy

The capacity to make an informed, uncoerced decision independently, often discussed in the context of moral, ethical, or legal decision making.

Negligent

Failing to take proper care in doing something, often leading to harm or damage as a result of this carelessness.

Authoritarian

Pertaining to a system of government or leadership style that emphasizes strict obedience to authority at the expense of personal freedom.

Permissive

A parenting style characterized by low demands with high responsiveness, where parents are lenient and often only step in when there is a serious problem.