21. On December 31, 2020, Russel, Inc. reported retained earnings of $110,000. In 2021, Russel, Inc. had revenues
of $85,000 and expenses of $45,000. In addition, the business paid cash dividends in 2021 of $35,000. Given
this information, what was Retained earnings on Russel, Inc.’s balance sheet on December 31, 2021?
a. $100,000
b. $115,000
c. $130,000
d. $155,000
e. None of the answers listed above is the correct answer to this question
22. JoelEmbi, Inc. has an ROA (return on assets) of 15.2 percent, total assets of $4,500,000 and a net profit margin
of 7.6 percent. What are JoelEmbi, Inc.’s annual sales? Enter your answer a whole number (i.e., rounded to
zero decimal places.
23. JimmyButle, LLC. has a debt-to-total assets ratio of 39.6%. What is the company’s debt-to-equity ratio? Enter
your answer as a ratio (that is, do not convert to a percent), rounded to 2 decimal places.
24. JohCol, Inc has a debt ratio of 27.0% and ROE = 20.2%. What is JohCol, Inc.’s ROA? Enter your answer as
a percent rounded to 1 decimal place.
25. PauGeo, Inc. has an ROA of 18.2% and a debt/equity ratio of 0.83. The firm's ROE is _________. Enter
answer as a percent rounded to 1 decimal place.
26. Assume that TraeYoung, Inc. has:
• Debt ratio = 60%
• Net profit margin = 15.2%
• Return on assets (ROA) = 52%
Find TraeYoung’s Total Asset Turnover ratio. Enter answer as a ratio (that is, do not convert to a percent),
rounded to 2 decimal places.
