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Amanullah

In: Business and Management

Submitted By amanullah1
Words 1909
Pages 8
APPENDIX C ANSWERS TO SELECTED END-OF-CHAPTER PROBLEMS
GITMAN’S 10TH

1-1 a. Ms. Harper has unlimited liability: $60,000 c. Ms. Harper has limited liability 1-2 a. $160,000 b. $150,000 1-5 a. $19,700 b. $72,800 c. 21.3% 1-8 e. Total tax liability: $206,400 1-9 a. Earnings after tax: $18,000 1-10 b. Asset X: $100 Asset Y: $2,000 2-3 a. Net profit after tax: $19,250 2-4 a. Earnings per share: $1.162 2-7 Initial sales price: $9.50 2-8 b. Earnings per share: $2.36 c. Cash dividend per share: $1.50 2-11 a. Current ratio 2000: 1.88 2002: 1.79 Quick ratio 2000: 1.22 2002: 1.24 Net working capital 2002: $9,900 2-13 a. 45 days 2-15 Creek Industry Debt ratio .73 .51 Times interest earned 3.00 7.30 2-17 a. Pelican Timberland (1) Debt ratio 10% 50% (2) Times interest earned 62.5 12.5 b. Pelican Timberland (1) Operating margin 25% 25% (2) Net Profit margin 14.8% 13.8% (3) ROA 36.9% 34.5% (4) ROE 41.0% 69.0% 2-20 a. Actual 2003 Current Ratio: 1.04 Average collection period: 56 days Debt ratio: 61.3% Net profit margin: 4.1% Return on equity: 11.3% 2-22 a. 2003 Johnson ROE = 21.21% Industry ROE = 14.46% 2-23 a. Actual 2003 Quick ratio: 2.20 Total asset turnover 2.00

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