question 52
Multiple Choice
Scenario: Pettijohn Inc.The balance sheet and income statement shown below are for Pettijohn Inc. Note that the firm has no amortization charges, it does not lease any assets, none of its debt must be retired during the next 5 years, and the notes payable will be rolled over. Balance Sheet (Millions of $ ) Assets Cash and securities Accounts receivable Inventories Total current assets Net plant and equipment Total assets Liabilities and Equity Accounts payable Notes payable Accruals Total current liabilities Long-term bonds Total debt Common stock Retained earnings Total common equity Total liabilities and equity 2007$1,554.09,660.013,440.0$24,654.017,346.0$42,000.0$7,980.05,880.04,620.0$18,480.010,920.0$29,400.03,360.09,240.0$12,600.0$42,000.0 Income Statement (Millions of $ ) Net sales Operating costs except depr’n Depreciation Earnings before interest and taxes (EBIT) Less interest Earnings before taxes (EBT) Taxes Net income Other data: Shares outstanding (millions) Common dividends Interest rate on notes payable & L-T bonds Federal plus state income tax rate Year-end stock price 2007$58,800.00$54,978.0$1,029.0$2,793.01,050.0$1,743.0$610.1$1,133.0175.00$509.836.25%35%$77.69
-Refer to Scenario: Pettijohn Inc.What is the firm's total assets turnover?
Definitions:
Open Society
A term coined by philosopher Karl Popper, referring to a society where government action is transparent, civil liberties are protected, and there is the opportunity for social and political change.
Critical Thinking
Purposefully dissecting and reviewing a topic to determine an outcome.
Pervasive Phenomenon
Something that is spread widely throughout an area or a group of people, affecting many aspects of a society or system.
Critical Thinking Skills
The ability to actively analyze, interpret, and evaluate information and arguments in a reflective and logical manner.