question 59
Multiple Choice
Devlin Company
Devlin Company
Statement of Financial Position
as of May 31
(in thousands)
Assets Current assets Cash Trading securities Accounts receivable (net) Inventories Prepaid expenses Total current assets Investments, at equity Property, plant, and equipment (net) Intangible assets (net) Total assets Liabilities and shareholders’ equity Current liabilities Notes payable Accounts payable Accrued expenses Income taxes pavable Total current liabilities Long-term debt Deferred taxes Total liabilities Shareholders’ equity Preferred stock, 6%,$100 par value, cumulative Common stock, $10 par value Additional paid-in capital-common stock Retained earmings Total shareholders’ equity Total liabilities and shareholders’ equity year 7$4530689022$2553837580$748$3570515125353$16315022511496$585$748year 6$3820488030$2163040045$691$184241680352$117150195100129$574$691
Devlin Company
Income Statement
For the year ended May 31
(in thousands)
Net sales Costs and expenses Cost of goods sold Selling, general, and administrative Interest expense Income before taxes Income taxes Net income Year 7$480330528$9036$54 Year 6$460315519$8534$51 (CMA adapted, Jun 97 #17) Refer to the Devlin Company example.Devlin Company's rate of return on assets for the year ended May 31, Year 7, was
Definitions:
Conscious
The state of being awake and aware of one's surroundings and experiences.
Preconscious Material
Preconscious material consists of thoughts and feelings that are not currently in conscious awareness but can be easily accessed or recalled.
Insomnia
A sleep disorder characterized by difficulty falling asleep, staying asleep, or experiencing restorative sleep.
Air Passages
The parts of the respiratory system through which air travels, including the nose, throat (pharynx), windpipe (trachea), and lungs' airways (bronchi).