30 questions

1.Coronado Industries began the year with retained earnings of $392000. During the year, the company recorded revenues of $497000, expenses of $376000, and paid dividends of $36000. What was Coronado's retained earnings balance at the end of the year?

$497000

$533000

$477000

$833000

2.Nash's Trading Post, LLC began the year with retained earnings of $101000. During 2022, the company issued $75000 of common stock for cash. The company recorded revenues of $725000, expenses of $625000, and paid dividends of $35000. What was Nash's net income for the year 2022?

$65000

$140000

$100000

$175000

3.Blue Spruce Corp. started the year with total assets of $307000 and total liabilities of $247000. During the year the business recorded $631000 in revenues, $329000 in expenses, and dividends of $62000. The net income reported by Blue Spruce Corp. for the year was

$302000.

$572000.

$182000.

$240000.

5.Splish Brothers Inc. recorded the following cash transactions for the year: Paid $176500 for salaries. Paid $83300 to purchase office equipment. Paid $15800 for utilities. Paid $8400 in dividends. Collected $381000 from customers. What was Splish's net cash provided by operating activities?

$188700

$105400

$204500

$180300

6.Using the following balance sheet and income statement data, what is the total amount of working capital?

Current assets	$37100		Net income	$48700
Current liabilities	18600		Stockholders' equity	90500
Average assets	185600		Total liabilities	48700
Total assets	139200

Average common shares outstanding was 17400.

$37100

$18500

$11600

$9300

7.Using the following balance sheet and income statement data, what is the current ratio?

Current assets	$33500		Net income	$42200
Current liabilities	14000		Stockholders' equity	80000
Average assets	158500		Total liabilities	42700
Total assets	113000

Average common shares outstanding was 14300.

2.7 : 1

2.4 : 1

0.4 : 1

2.6 : 1

8.Using the following balance sheet and income statement data, what is the total amount of working capital?

Current assets	$26040		Net income	$55800
Current liabilities	14880		Stockholders' equity	78120
Average assets	163680		Total liabilities	33480
Total assets	111600

Average common shares outstanding was 18600.

$8680

$11160

$2480

$6200

9.For 2022, Sunland Company reported net income of $43400, had average share outstanding of 15300, paid preferred dividends of $12800 and common dividends were of $7200. What was 2022 earnings per share?

$0.50

$25.00

$0.08

$2.00