Use the Following Information on Dylan Enterprises for Questions 20

question 27

Multiple Choice

Use the following information on Dylan Enterprises for questions 20 - 26.
$\begin{array}{lr}\text { Income statement }\\\text { Net Sales } & \$ 320,000,000 \\\text { Less: Cost of Goods Sold } & \$ 162,000,000\\\text { Gross Profit } & \$ 158,000,000 \\\text { Less: Operating Expenses } & \$ 120,000,000 \\\text { Less: Depreciation } & \$ 11,000,000\\\text { Operating Profit } & \$ 27,000,000 \\\text { Less: Interest Expense } & \$ 8,500,000\\\text { Net Profit Before Taxes } & \$ 18,500,000 \\\text { Less: Taxes } & \$ 6,290,000\\\text { Net Income }&\$12,210,000\\\\\text { Earnings Available to Common } & \$ 12,210,000 \\\text { Dividends Paid (60\% of EAC) } & \$ 7,326,000\\\text { Addition to Retained Earnings }&\$4,884,000\\\\\text { Earnings Per Share }&\$6.11\end{array}$ $\begin{array}{lrrr}&\text { Balance sheet }\\\text { Assets } & \text { Current Year } & \text { Prior Year } & \text { Change } \\\text { Cash } & \$ 1,500,000 & \$ 3,000,000 & (\$ 1,500,000) \\\text { Marketable Securities } & \$ 1,500,000 & \$ 3,200,000 & (\$ 1,700,000) \\\text { Accounts Receivable } & \$ 57,000,000 & \$ 44,000,000 & \$ 13,000,000 \\\text { Inventory } & \$ 106,000,000 & \$ 99,000,000 & \$ 7,000,000 \\\text { Pre-Paid Expenses } & \$ 8,400,000 & \$ 11,000,000 & (\$ 2,600,000) \\\text { Total Current Assets } & \$ 174,400,000 & \$ 160,200,000 & \$ 14,200,000 \\\text { Long-Term Assets } & \$ 148,000,000 & \$ 154,000,000 & (\$ 6,000,000) \\\text { Total Assets }&\$322,400,000&\$314,200,000&\$8,200,000\\\\\text { Liabilities } & \text { Current Year } & \text { Prior Year } & \text { Change } \\\text { Accounts Payable } & \$ 8,716,000 & \$ 6,400,000 & \$ 2,316,000\\\text { Short-Term Debt } & \$ 102,000,000 & \$ 105,000,000 & (\$ 3,000,000) \\ \text { Total Current Liabilities } & \$ 110,716,000 & \$ 111,400,000 & (\$ 684,000) \\\text { Long-Term Debt }(8 \%) & \$ 115,000,000 & \$ 111,000,000 & \$ 4,000,000\\\text { Total Liabilities } & \$ 225,716,000 & \$ 222,400,000 & \$ 3,316,000 \\\text { Common Stock (\$1 Par) } & \$ 2,000,000 & \$ 2,000,000 & \$ 0 \\\text { Paid-In Capital } & \$ 65,000,000 & \$ 65,000,000 & \$ 0 \\\text { Retained Earnings } & \$ 29,684,000 & \$ 24,800,000 & \$ 4,884,000\\\text { Total Equity }&\$96,684,000&\$91,800,000&\$4,884,000\\\text { Total Liabilities and Equity }&\$322,400,000&\$314,200,000&\$8,200,000\end{array}$
-What were Dylan's cash receipts during the year?

• A) $307,000,000
• B) $320,000,000
• C) $323,000,000
• D) $424,000,000
• E) $482,000,000

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Definitions:

Hyperpolarization

A change in a cell's membrane potential, making it more negative, and thus further from initiating an action potential.

Inhibitory Postsynaptic Potential

A type of synaptic potential that makes a post-synaptic neuron less likely to generate an action potential, usually by making the inside of the neuron more negative.

Neuronal Membrane

The lipid bilayer that encases neurons, regulating the entry and exit of substances and maintaining the electric potential used for neural transmission.

Depolarization

A reduction in the difference in voltage across a cell's plasma membrane, which can trigger nerve impulses or muscle contractions.