devry fin515 week 1 quiz 1

Grade Details - All Questions

Question 1. Question : (TCO G) Pick one of the ratios discussed in the lecture or the text and provide an example of how that ratio might fluctuate seasonally.

Question 2. Question : (TCO G) As of December 31, 20XX, Michael Corp's fixed assets before depreciation were $14,000,000. Its sales for the year were $32,000,000. Its EBIT for 20XX was $1,500,000, and its accumulated depreciation on fixed assets was $4,000,000. What was its fixed assets turnover ratio?

Question 3. Question : (TCO G) Between December 31, 2016 and December 31, 2017, annual sales of Bobcat Industries went from $32,000,000 to $48,000,000. EBIT went from $3,000,000 to $4,600,000. Net income went from $1,500,000 to $2,200,000. Management has asked you to comment.