The following income statement and balance sheet for virtual gaming systems are provided. earnings per share for the year ended december 31, 2012, are $1.00. the closing stock price on december 31, 2012, is $28.00.virtual gaming systemsincome statementfor the year ended december 31, 2012 sales revenue $3,051,000 cost of goods sold 1,969,000 gross profit 1,082,000 expenses: operating expenses 869,000 depreciation expense 42,000 loss on sale of land 9,000 interest expense 16,900 income tax expense 49,400 total expenses 986,300 net income $ 95,700 virtual gaming systemsbalance sheetdecember 312012 2011 assets current assets: cash $ 190,000 $ 157,000 accounts receivable 97,000 74,000 inventory 106,000 146,000 prepaid rent 12,000 8,000 long-term assets: investment in bonds 129,000 0 land 220,000 250,000 equipment 239,000 181,000 less: accumulated depreciation (71,000) (29,000) total assets $ 922,000 $ 787,000 liabilities and stockholders' equity current liabilities: accounts payable $ 67,000 $ 81,000 interest payable 6,000 23,000 income tax payable 19,000 29,000 long-term liabilities: notes payable 292,000 237,000 stockholders' equity: common stock 303,000 281,000 retained earnings 235,000 136,000 total liabilities and stockholders’ equity $ 922,000 $ 787,000 required: calculate the following profitability ratios for 2012. (round your answers to 1 decimal place. omit the "%" sign in your response.) profitability ratios 1. gross profit ratio % 2. return on assets % 3. profit margin % 4. asset turnover times 5. return on equity % 6. price-earnings ratio times

The balance sheet contains the following major sections: current assets long-term investments property, plant, and equipment intangible assets other assets current liabilities long-term liabilities contributed capital retained earnings accumulated other comprehensive income required: the following is a list of accounts. using the letters a through j, indicate in which section of the balance sheet each of the accounts would be classified. if an account does not belong under one of the sections listed, select "not under any of the choices" from the classification drop down box. for all accounts, indicate if the account is a contra account or an account that would normally be deducted on the balance sheet by selecting "yes" from the second drop down box, otherwise select "no". account classification contra or deducted (yes/no) 1. cash 2. bonds payable (due in 8 years) 3. machinery 4. deficit 5. unexpired insurance 6. franchise (net) 7. fund to retire preferred stock 8. current portion of mortgage payable 9. accumulated depreciation 10. copyrights 11. investment in held-to-maturity bonds 12. allowance for doubtful accounts 13. notes receivable (due in 3 years) 14. property taxes payable 15. deferred taxes payable 16. additional paid-in capital on preferred stock 17. premium on bonds payable (due in 8 years) 18. work in process 19. common stock, $1 par 20. land 21. treasury stock (at cost) 22. unrealized increase in value of available-for-sale securities

Zachary company produces commercial gardening equipment. since production is highly automated, the company allocates its overhead costs to product lines using activity-based costing. the costs and cost drivers associated with the four overhead activity cost pools follow: activities unit level batch level product level facility level cost $ 64,800 $ 27,730 $ 15,000 $ 154,000 cost driver 2,400 labor hrs. 47 setups percentage of use 11,000 units production of 780 sets of cutting shears, one of the company’s 20 products, took 240 labor hours and 7 setups and consumed 15 percent of the product-sustaining activities. required: (a) had the company used labor hours as a company wide allocation base, how much overhead would it have allocated to the cutting shears? (b) how much overhead is allocated to the cutting shears using activity-based costing? (c) compute the overhead cost per unit for cutting shears first using activity-based costing and then using direct labor hours for allocation if 780 units are produced. if direct product costs are $150 and the product is priced at 30 percent above cost for what price would the product sell under each allocation system? (d) assuming that activity-based costing provides a more accurate estimate of cost, indicate whether the cutting shears would be over- or underpriced if direct labor hours are used as an allocation base. explain how over-or undercosting can affect vaulker's profitability. (e) comment on the validity of using the allocated facility-level cost in the pricing decision. should other costs be considered in a cost- plus pricing decision? if so, which ones? what costs would you include if you were trying to decide whether to accept a special order?

Question 6 of 102 pointswhich situation shows a constant rate of change? oa. the number of tickets sold compared with the number of minutesbefore a football gameob. the height of a bird over timeoc. the cost of a bunch of grapes compared with its weightod. the outside temperature compared with the time of day