Question 2 Question 3 Question 4 Question 5 The Ranger Corporation data for the

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Question 2

Question 3


Question 4

Question 5

The Ranger Corporation data for the current year and prior year is as follows: Current year $51,240 73,800 $67,500 $41,400 $26,600 $42,000 $82,540 $596,000 $481,000 $115,000 Prior year $42.000 $60,000 $50,000 $30,000 $28,000 $35,000 $59,000 $500,000 $400,000 $100,000 Current assets Current liabilities Long- term liabilities Common stock (5,000 shares) Retained earnings Net sales revenue Gross Profit A. An increase of 19.2% in sales revenue B. An increase of 39.9% from prior to current year ° C. Increase of $7,000 in common stock O D. Sales return of $9.14

Explanation / Answer

1)Correct option is "C" -7000 Increase

Increase in common stock= 42000-35000 = 7000

2)correct option is "C"

Of the 100% sales revenue , 23..36% is a selling and general expense

3)correct option is B"

Accounts receivable turnover =net credit sales /average receivable

            = 1420000/46000

             = 30.87 times

4)correct option is C"

Earning per share = Net income/ common shares outstanding

         = 173000/51000

        =$ 3.39 per share

5)correct option is "A"

Book value per share =book value of stockholders equity /number of shares

             = 292000/ 27000

             = $ 10.81 per share

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