Use the Following Information on Dylan Enterprises for Questions 20

question 40

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 is Dylan's current ratio for the current year?

• A) 1.36
• B) 1.44
• C) 1.58
• D) 1.68
• E) 1.71

Explain how changes in the price of resources and products affect the demand for complementary and substitute resources.

Understand the difference between marginal revenue product in perfect and imperfect competition markets.

Interpret productivity changes and their impact on the demand for labor.

Describe the effect of technological advancements on the marginal product of labor and corresponding changes in employment.

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Search

The process of locating specific data, information, or files within a database or filesystem.

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The act of making data available to others, often through networked computers or storage systems, to facilitate communication or collaboration.

Default Gateway

The IP address of a Layer 3 device, such as a router, that is directly connected to its immediate network. It tells a device on its network where to send a packet destined for a remote network.

IP Address

A type of network adapter address used when multiple networks are linked. Known as a Layer 3 address, in IPv4 it is a 32-bit binary number with groups of 8 bits separated by a dot. This numbering scheme is also known as dotted-decimal notation. Each 8-bit group represents numbers from 0 to 255. An example of an IPv4 IP address is 113.19.12.102. Also see IPv4 and IPv6.