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F. Naz
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1. Frantic Fast Foods had earnings after taxes of $390,000 in the year 2009 with 300,000 shares outstanding. On January 1, 2010, the firm issued 25,000 new shares. Because of the proceeds from these new shares and other operating improvements, earning after taxes increased by 20 percent.
A. Compute earnings per share for the year 2009.
B. Compute earnings per share for the year 2010.
(Income statement)
2. Bettis Bus Company had earnings after taxes of $ 600,000 in the year 2009 with 300,000 shares of stock outstanding. On January 1, 2010, the firm issued 40,000 new shares. Because of the proceeds from these new shares and other operating improvements earnings after taxes increased by 25 percent.
A. Compute earnings per share for the year 2009.
B. Compute earnings per share for the year 2010.
(Income statement)
3. A. Hillary Swank Clothiers had sales of $360,000 and cost of goods sold of $244,800. What is the gross profit margin (ration of gross profit to sales)?
C. If the average firm in the clothing industry had a gross profit of 35 percent, how is the firm doing?
(Gross profit)

Pgs 78 Chap 3

15. Using the DuPont method, evaluate the effects of the following relationships for the Lollar Corporation.
a) Lollar Corporation has a profit margin of 5 % and its return on assets (investment) is 13.5 %. What is its assets turnover ratio?
b) If the Lollar Corporation has a debt-to-total-assets ratio of 60 % present, what would the firm’s return on equity be?
c) What would happen to return on equity if the debt- to-total-assets decreased to 40%?
16. Ferry Rice and Grain Stores has $4,000,000 in yearly sales. The firm earns 3.5 % on each dollar of sales and turns over its assets 2.5 times per year. It has $100.000 in current liabilities and $300,000 in long –term liabilities.
a) What is its return on stockholder’s equity?
b) If the asset base remains the same as computed in part (a), but total asset turnover goes up to 3, what will be the new return on stockholder’s equity? Assume that the profit margin stay the same as do current and long –term liabilities.
Submitted: 1 year ago.
Category: Multiple Problems
Expert:  F. Naz replied 1 year ago.
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