FIB - 1 Question 1 (9 points) Question 1 Unsaved For the FY 2016, Alpha Company's balance sheet included the following current items: cash $40,000, accounts receivable $160,000, inventories $100,000, prepaid expenses $20,000, accounts payable $90,000, and accrued expenses $70,000.  Use this information to determine the: (Round & enter your answers to one decimal place for non-dollar ratios and enter the value. For dollar ratio enter as whole dollars only.) 1. Quick Ratio 2. Current Ratio 2. Working Capital Question 1 options: Spell check Spell check Spell check Save FIB - 2 Question 2 (6 points) Question 2 Unsaved For the FY 2016, Alpha Company had net sales of $950,000 and net income of $65,000, paid income taxes of $30,000, and had before tax interest expense of $15,000. Use this information to determine the: (Round & enter your answers to one decimal place and enter the value.) 1. Times Interest Earned Ratio 2. Profit Margin Question 2 options: Spell check Spell check Save FIB - 3 Question 3 (8 points) Question 3 Unsaved The following financial information is for Alpha Corporation are for the fiscal years ending 2017 & 2016 (all balances are normal): Item/Account 2017 2016 Accounts Receivable $9,800 $9,400 Inventory 25,000 16,000 Net Sales (all credit) 80,000 71,000 Cost of Goods Sold 49,000 52,000 Net Income 7,200 6,900 Use this information to determine for FY 2017: (Round & enter your answers to one decimal place and enter the value.) 1. the inventory turnover ratio 2. number of days of inventory 3. Gross Profit Margin 4. Profit Margin Question 3 options: Spell check Spell check Spell check Spell check Save FIB - 4 Question 4 (8 points) Question 4 Unsaved The following financial information is for Alpha Corporation are for the fiscal years ending 2017 & 2016 (all balances are normal): Item/Account 2017 2016 Accounts Receivable $9,800 $9,400 Inventory 20,000 16,000 Net Sales (all credit) 72,000 71,000 Cost of Goods Sold 54,000 52,000 Net Income 7,200 6,900 Use this information to determine for FY 2017: (Round & enter your answers to one decimal place and enter the value.) 1. the accounts receivable turnover ratio 2. average collection period accounts receivable 3. Gross Profit Margin 4. Profit Margin Question 4 options: Spell check Spell check Spell check Spell check Save FIB - 5 Question 5 (6 points) Question 5 Unsaved Alpha's net accounts receivable were $500,000 at December 31, 2015, and $600,000 at December 31, 2016.  Net cash sales for 2016 were $300,000.  The accounts receivable turnover for 2016 was 5.5.  Use this information to determine the Fiscal Year 2016: (Round & enter your answers to one decimal place for non-dollar ratios and enter the value. For dollar ratio enter as whole dollars only.) 1. Total Net Sales 2. Total Net Credit Sales Question 5 options: Spell check Spell check Save FIB - 6 Question 6 (9 points) Question 6 Unsaved The following financial information is for Alpha Corporat ...

1. FIB - 1
Question 1 (9 points)
Question 1 Unsaved
For the FY 2016, Alpha Company's balance sheet included the
following current items: cash $40,000, accounts receivable
$160,000, inventories $100,000, prepaid expenses $20,000,
accounts payable $90,000, and accrued expenses $70,000. Use
this information to determine the: (Round & enter your answers
to one decimal place for non-dollar ratios and enter the value.
For dollar ratio enter as whole dollars only.)
1. Quick Ratio
2. Current Ratio
2. Working Capital
Question 1 options:
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FIB - 2
Question 2 (6 points)
Question 2 Unsaved
For the FY 2016, Alpha Company had net sales of $950,000 and
net income of $65,000, paid income taxes of $30,000, and had
before tax interest expense of $15,000. Use this information to
determine the: (Round & enter your answers to one decimal
place and enter the value.)
1. Times Interest Earned Ratio
2. Profit Margin
Question 2 options:

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FIB - 3
Question 3 (8 points)
Question 3 Unsaved
The following financial information is for Alpha Corporation
are for the fiscal years ending 2017 & 2016 (all balances are
normal):
Item/Account
2017
2016
Accounts Receivable
$9,800
$9,400
Inventory
25,000
16,000
Net Sales (all credit)
80,000
71,000
Cost of Goods Sold
49,000
52,000
Net Income
7,200
6,900
Use this information to determine for FY 2017: (Round & enter
your answers to one decimal place and enter the value.)
1. the inventory turnover ratio
2. number of days of inventory
3. Gross Profit Margin
4. Profit Margin

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FIB - 4
Question 4 (8 points)
Question 4 Unsaved
The following financial information is for Alpha Corporation
are for the fiscal years ending 2017 & 2016 (all balances are
normal):
Item/Account
2017
2016
Accounts Receivable
$9,800
$9,400
Inventory
20,000
16,000
Net Sales (all credit)
72,000
71,000
Cost of Goods Sold
54,000
52,000
Net Income
7,200
6,900
Use this information to determine for FY 2017: (Round & enter
your answers to one decimal place and enter the value.)
1. the accounts receivable turnover ratio

4. 2. average collection period accounts receivable
3. Gross Profit Margin
4. Profit Margin
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FIB - 5
Question 5 (6 points)
Question 5 Unsaved
Alpha's net accounts receivable were $500,000 at December 31,
2015, and $600,000 at December 31, 2016. Net cash sales for
2016 were $300,000. The accounts receivable turnover for 2016
was 5.5. Use this information to determine the Fiscal Year
2016: (Round & enter your answers to one decimal place for
non-dollar ratios and enter the value. For dollar ratio enter as
whole dollars only.)
1. Total Net Sales
2. Total Net Credit Sales
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FIB - 6
Question 6 (9 points)
Question 6 Unsaved
The following financial information is for Alpha Corporation

5. are for the fiscal years ending 2017 & 2016 (all balances are
normal):
Item/Account
2017
2016
Cash
$26,000
$16,000
Accounts Receivable
40,000
50,000
Inventory
30,000
22,000
Current Liabilities
76,000
42,000
Net Sales (all credit)
390,000
360,000
Cost of Goods Sold
250,000
260,000
Use this information to determine for FY 2017: (Round & enter
your answers to one decimal place and enter the value.)
1. the inventory turnover ratio
2. number of days of inventory
3. Gross Profit Margin
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6. FIB - 7
Question 7 (9 points)
Question 7 Unsaved
The following financial information is for Alpha Corporation
are for the fiscal years ending 2017 & 2016 (all balances are
normal):
Item/Account
2017
2016
Cash
$26,000
$16,000
Accounts Receivable
40,000
50,000
Inventory
30,000
22,000
Current Liabilities
76,000
42,000
Net Sales (all credit)
360,000
390,000
Cost of Goods Sold
260,000
250,000
Use this information to determine for FY 2017: (Round & enter
your answers to one decimal place and enter the value.)
1. the Accounts Receivable turnover ratio
2. Average Accounts Receivable collection period
3. Gross Profit Margin
Question 7 options:

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FIB - 8
Question 8 (2 points)
Question 8 Unsaved
The following financial information is for Alpha Corporation
are for the fiscal years ending 2017 & 2016 (all balances are
normal):
Item/Account
2017
2016
Cash
$26,000
$16,000
Accounts Receivable
40,000
50,000
Inventory
30,000
22,000
Current Liabilities
65,000
42,000
Net Sales (all credit)
390,000
360,000
Cost of Goods Sold
260,000
250,000
Use this information to determine the quick ratio for FY 2017:
(Round & enter your answers to one decimal place and enter the
value.)

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FIB - 9
Question 9 (4 points)
Question 9 Unsaved
The following financial information is for Alpha Corporation
are for the fiscal years ending 2017 & 2016 (all balances are
normal):
Item/Account
2017
2016
Cash
$26,000
$16,000
Accounts Receivable
40,000
50,000
Inventory
25,000
22,000
Current Liabilities
76,000
42,000
Net Sales (all credit)
390,000
360,000
Cost of Goods Sold
260,000
250,000

9. Use this information to determine for FY 2017: (Round & enter
your answers to one decimal place for non-dollar ratios and
enter the value. For dollar ratio enter as whole dollars only.)
1. the Current Ratio
2. Working Capital
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FIB - 10
Question 10 (2 points)
Question 10 Unsaved
Alpha's Company's Fiscal Year 2017 Statement of Cash Flows
reflected information that cash provided by operating activities
was $800,000. The following additional information was
provided:
Depreciation Expense
$380,000
Common Stock Dividends
200,000
Accounts Receivable increase
110,000
Accounts Payable increase
60,000
Use this information and determine Alpha Company's the Net
Income (Net Loss) the 2017 Fiscal Year.
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10. FIB - 11
Question 11 (4 points)
Question 11 Unsaved
Alpha's Company's Fiscal Year 2017 Statement of Cash Flows
reflected information that cash provided by operating activities
was $800,000. The Fiscal Year 12/31/17 Balance Sheet showed
the value of Retained Earnings to be $625,000. The following
additional information was provided:
Depreciation Expense
$380,000
Common Stock Dividends
200,000
Accounts Receivable decrease
110,000
Accounts Payable increase
60,000
Use this information and determine Alpha Company's:
a. the Net Income (Net Loss) the 2017 Fiscal Year.
b. the beginning balance for Retained Earnings
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SCF - 1
Question 12 (25 points)
Question 12 Unsaved
The following information is related to Alpha Company's fiscal
year 2017.
Income Statement:
Net Income $3,000,000

11. Depreciation Expense 500,000
Gain on Sale of Plant Assets 25,000
Interest Expense 5,000
Balance Sheet - 12/31/17: Increase (Decrease)
Accounts Payable ($40,000)
Plant Assets - Purchased 250,000
Plant Assets - Disposals (100,000)
Additional Information:
Common Stock exchanged for outstanding Long
Term Notes Payable of $125,000
Dividends paid were $30,000
Use this information to prepare a partial Statement of Cash
Flows for Alpha Company. Prepare only the section related to
Cash Flows from Operating Activities.
Question 12 options:
FIB - 12
Question 13 (4 points)
Question 13 Unsaved
The following information is related to Alpha Company's fiscal
year 2017.
Income Statement:
Net Income $3,000,000
Depreciation Expense 500,000
Gain on Sale of Plant Assets 50,000
Interest Expense 5,000
Balance Sheet - 12/31/17: Increase (Decrease)
Accounts Payable ($40,000)
Plant Assets - Purchased 250,000
Plant Assets - Disposals (100,000)
Additional Information:
Common Stock exchanged for outstanding Long
Term Notes Payable of $125,000

12. Dividends paid were $30,000
Use this information to determine Alpha Company's Net Cash
Flows from Investing Activities. If the amount is an outflow
then enclose the amount with dollar sign inside of brackets ( ):
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FIB - 13
Question 14 (4 points)
Question 14 Unsaved
The following information is related to Alpha Company's fiscal
year 2017.
Income Statement:
Net Income $3,000,000
Depreciation Expense 500,000
Gain on Sale of Plant Assets 50,000
Interest Expense 5,000
Balance Sheet - 12/31/17: Increase (Decrease)
Accounts Payable ($40,000)
Plant Assets - Purchased 250,000
Plant Assets - Disposals (100,000)
Additional Information:
Common Stock exchanged for outstanding Long
Term Notes Payable of $125,000
Dividends paid were $30,000
Use this information to determine Alpha Company's Net Cash
Flows from Financing Activities. If the amount is an outflow
then enclose the amount with dollar sign inside of brackets ( ):
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13. Page 6 of 7
Homework Assignment 3
Stat 200 (Clary)
Instructions:Be sure to record the final answer next to “Answer”
and show all your calculation steps or assumptions under
“Work.” You can type in your calculations, use the equation
tool, or insert images of your handwritten calculations.
Remember to add your last and first name to the end of the file
name and upload your answers here (e.g.,
FILENAME_LASTNAME.docx) before submitting.
*Page numbers are approximate
Problem Number
Problem and
Solution
#1
(2 pts)
Lane et al., Chapter. 5, Exercise 1, Page 216
1. (a) What is the probability of rolling a pair of dice and
obtaining a total score of 9 or more?
(b) What is the probability of rolling a pair of dice and
obtaining a total score of 7?

14. Answer:
Work:
#2
(2 pts)
Lane et al., Chapter. 5, Exercise 7, Page 217
Answer:
Work:
#3
(2 pts)
Lane et al., Chapter. 5, Exercise 27, Page 222
Answer:

15. Work:
#4
(2 pts)
Illowsky et al., Chapter 3, Exercise 86, Page 207
Answer:
Work:
#5
(2 pts)

16. Illowsky et al., Chapter. 3, Exercise 98, Page 209
Answer:
Work:
#6

17. (2 pts)
Illowsky et al., Chapter. 3, Exercise 112, Page 210
Answer:
Hair Color
Hair Type
Brown
Blond
Black
Red
Row Total
Wavy
20
15
3

18. 43
Straight
80
15
12
Column Total
20
215
Work:

19. #7
(2 pts)
Illowsky et al., Chapter 3, Exercise 124, Page 214
*Please note that this problem is referring to information that is
presented in exercise #123. Please use that information to solve
this problem.
Answer:
Work:
#8
(2 pts)
Illowsky et al., Chapter 4, Exercise 72, Page 268
Answer:

20. Work:
#9
(2 pts)
Illowsky et al., Chapter 4, Exercise 80 Page 270
Answer:

21. Work:
#10
(2 pts)
Illowsky et al., Chapter 4, Exercise 88, Page 271
Answer:
Work: