Last year Rennie Industries had sales of $305,000

Last year Rennie Industries had sales of $305,000

19.  Last year Rennie Industries had sales of $305,000, assets of $175,000, a profit margin of 5.3%, and an equity multiplier of 1.2.  The CFO believes that the company could reduce its assets by $51,000 without affecting either sales or costs.  Had it reduced its assets by this amount, and had the debt ratio, sales, and costs remained constant, how much would the ROE have changed?

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a.     4.10%

b.     4.56%

c.     5.01%

d.     5.52%

e.     6.07%



20.   Which ratio may be greatly affected by the choice of short-term and long-term debt for a given amount of total debt?

a.     Debt ratio

b.     Profit margin

c.     TIE

d.     Quick ratio

e.     TAT

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