Madonna Corporation

Madonna Corporation has the following data:Gross Sales 100,000Gross profit margin 6.0% Tax rate 40%What is Lone Star’s net income after taxes?Select one:a. 12,000b. 24,000c. 3,600d. 4,500Britney Co. Statement of Financial Position has Total Assets worth 100,000 wherein 60,000 is non-current. It also has Total Liabilities worth 200,000 wherein 80,000 is non-current. It was found out that there was an unrecorded depreciation worth 20,000 and unrecorded purchase of merchandise on account worth 15,000. What is the current ratio? Select one:a. 0.56b. 0.50c. 0.41d. 0.26The Webster Company has determined that its return on equity is 15 percent. Management is interested in the various components that went into this calculation. You are given the following information: (total debt)/(total assets) = 0.35 and total assets = 1,000,000. What is the net income?Select one:a. 52,500b. 428,571c. 97,500d. 23,333Samhara Company has cash and cash equivalents worth 10,000; equipment worth 20,000; accounts receivable worth 15,000; notes receivable worth 12,000 ; accounts payable worth 10,000 and notes payable worth 5,000 maturing after one month. What is the current ratio?Select one:a. 2.47b. 1.67c. 2.5d. 3.7Lindsburg Enterprises has a debt-to-equity ratio of 40 percent. The company’s total assets is equal to Php 800 million. What is the value of the company’s total liabilities? Select one:a. Php 2,400,000,000b. Php 228,571,429c. Php 458,428,472d. Php 320,000,000

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