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:
CAUTI
Catheter-Associated Urinary Tract Infection, which is an infection involving the urinary tract that occurs in a person who has a urinary catheter.
Semi-Critical Item
Medical equipment or items that come into contact with mucous membranes or non-intact skin but do not penetrate them, requiring high-level disinfection.
Endoscope
A medical instrument used to view the inside of a body cavity or organ.
PPE
Abbreviation for Personal Protective Equipment, which includes garments and gear used to protect the wearer from injury or infection.