23) Assets Current Assets Cash Accounts receivable Inventories Other current assets Long-Term Assets Land Total current assets Buildings Equipment Less accumulated depreciation Net property, plant, and i equipment Goodwill Other long-term assets Total long-term assets A).75 B).72 C).65 D).70 Luther Corporation Consolidated Balance Sheet December 31, 2006 and 2005 (in $ millions) Liabilities and 2005 Stockholders' Equity 2006 57.6 55.2 45.6 5.6 164.0 66.4 108.3 114.3 Current Liabilities 58.5 Accounts payable 234.6 60.0 63.0 357.6 Notes payable / short-term 39.6 debt Current maturities of long- 42.9 term debt 3.0 Other current liabilities 144.0 Total current liabilities 62.1 91.5 Capital lease obligations 99.6 (54.4) (52.5) Deferred taxes Long-Term Liabilities Long-term debt 200.7 Other long-term liabilities Total long-term liabilities 42.0 Total liabilities 242.7 Stockholders' Equity 2006 86.0 10.5 39.6 6.0 142.1 231.3 22.8 www 254.1 396.2 125.4 2005 73.5 9.6 36.9 12.0 132.0 168.9. 22.2 Total liabilities and i 521.6 386.7 Stockholders' Equity Total Assets 521.6 386.7 Refer to the balance sheet above. If in 2005 Luther has 12.8 million shares outstanding and these shares are trading at $22.43 per share, then using the market value of equity, the debt-equity ratio for Luther in 2005 is closest to 191.1 323.1 63.6

Use attachment to answer the following  Assume all assets are operating assets; all current liabilities are operating liabilities. Return on net operating assets for 2006 is:  a) 11.30% b) 11.03% c) 9.93% d) 11.19

correct answers ?

Alcoser Corporation's most recent balance sheet appears below:   Comparative Balance Sheet   Ending Balance Beginning Balance Assets:     Cash and cash equivalents $ 34 $ 29 Accounts receivable 32 36 Inventory 53 66 Property, plant, and equipment 554 480 Less accumulated depreciation 208 206 Total assets $ 465 $ 405 Liabilities and stockholders' equity:     Accounts payable $ 41 $ 50 Accrued liabilities 17 16 Income taxes payable 28 30 Bonds payable 217 200 Common stock 75 70 Retained earnings 87 39 Total liabilities and stockholders' equity $ 465 $ 405   Net income for the year was $60. Cash dividends were $12. The company did not dispose of any property, plant, and equipment. It did not issue any bonds payable or repurchase any of its own common stock. The following questions pertain to the company's statement of cash flows.   The net cash provided by (used in) investing activities for the year was:   Multiple Choice   $74   $(74)…

Cash Short-term investments Current receivables Inventory Prepaid expenses Total current assets Current liabilities Camaro $ 2,400 0 260 2,175 300 $ 5,135 $ 2,220 GTO $ 230 0 510 2,020 600 $ 3,360 $ 1,320 Torino $ 1,300 600 500 3,050 900 $ 6,350 $ 3,550 a. Compute the acid-test ratio for each of the separate cases above. b. Which company is in the best position to meet short-term obligations?

Selected financial data for Wilmington Corporation is presented below.   WILMINGTON CORPORATION Balance Sheet As of December 31   Year 7 Year 6 Current Assets     Cash and cash equivalents $    634,527 $   335,597 Marketable securities 166,106 187,064 Accounts receivable (net) 284,226 318,010 Inventories 466,942 430,249 Prepaid expenses 60,906 28,060 Other current assets 83,053 85,029 Total Current Assets 1,695,760 1,384,009       Property, plant and equipment 1,384,217 625,421 Long-term investment 568,003 425,000 Total Assets $3,647,980 $2,434,430       Current Liabilities     Short-term borrowings $   306,376 $    170,419 Current portion of long-term debt 155,000 168,000 Accounts payable 279,522 314,883 Accrued liabilities 301,024 183,681 Income taxes payable 107,509 196,802 Total Current Liabilities 1,149,431…