[单项选择]Given the following information, compute price/sales.
Book value of assets = $550000
Total sales = $200000
Net income = $20000
Dividend payout ratio = 30%
Operating cash flow = $40000
Price per share = $100
Shares outstanding = 1000
Book value of liabilities = $500000
A. 2.00X.
B. 2.50X.
C. 0.50X.

[单项选择]Given the following information, compute the price/cash flow ratio for EAV Technology. Net income per share=$ 6 Price per share=$ 100 Depreciation per share=$ 2 Interest expense per share=$ 4 Marginal tax rate=25%（）
A. 10.0X.
B. 12.5X.
C. 8.3X.

[单项选择]Given the following inventory information about the Buckner Company: Year-end LIFO inventory of $ 6500. Year-end LIFO reserve of $ 2500. The current year’ s LIFO cost of goods sold is $15000. After tax income is $1600. The previous year’s LIFO reserve was $ 2000. What is the firm’ s after tax net income on a FIFO basis if the firm’ s tax rate is 40 percent

[单项选择]

Passage Five Read the following information about different pen pals. 1. Mary, 24 years old, comes from Scotland and would like to find a pen pal who comes from East Europe. She likes playing the piano and listening to jazz music. She is interested in history but does not like discussing politics. 2. Kim Lee, 19 years old, comes from Seoul, South Korea. Kim loves travelling and hopes to visit Great Britain in the future. He would like a pen pal who is interested in discussing the differences between life in Europe and life in Asia. He loves listening to pop music and playing football in his free time. 3. Pietro, 42 years old, comes from Argentina. He is a businessman and would like to find a pen pal who is also a businessperson and lives in North America. He is married with three children and likes using the Internet in his free time. 4. Helga, 33 years old, comes from Germany and speaks French, English and Russian. She would like a pen pal who is interested in exchanging
A. Helga
B. Mary
C. Pietro
D. Kim Lee

[单项选择]An analyst gathers the following information about Monument State Bank: Demand deposits $ 400 million. Loans and securities $ 260 million. Reserve requirement 10%. The bank has a total of $ 50 million in cash and deposits with the Federal Reserve. Monument Stare Bank is in a position to make additional loans of:（）
A. $ 5 million.
B. $10 million.
C. $ 26 million.

[简答题]Directions:
Study the following information carefully and write letter in at least 100 words.
Your name is Li Ming, a student of the Department of Applied Physics, Tsinghua University.
You hope to further your study in Boston University( Massachusetts, USA)upon your graduation next year. Now you are writing to the office of graduate admissions to ask for the Application Form and other relative materials.
The following points should also be covered in your letter:
1) your personal information;
2) the reason why you choose Boston university;
3) a brief study plan.
You should write about 100 words on ANSWER SHEET 2.

[单项选择]The following information has been gathered about a firm: LIFO inventory = $10000 Beginning LIFO reserve = $ 2500 Ending LIFO reserve = $ 4000 LIFO cost of goods sold=$15000 LIFO net income = $1500 Tax rate is 40% What is the FIFO COGS

[单项选择]Depreciation expense for Williams Investing will decrease by:

[单项选择]An analyst just received the following information for Mythical Interactions, Inc. A senior equity trader in her group wants to know if he should purchase a large block of the stock. Earnings retention rate at 65% Required rate of return, ken, of 11% Return on equity (ROE) of 13%, expected to remain constant Estimated Sales per share of $175 Estimated EBIDTA profit margin of 22% Estimated Depreciation per share of $ 20 Estimated Interest Expense per share of $12 Corporate Tax Rate of 40% Current market price is $ 45.50 per share Based on the assumptions above, which of the following recommendations is CORRECT The analyst should advise the trader to:（）
A. not purchase the stock. It is overvalued by approximately $10.20.
B. not purchase the stock. It is overvalued by approximately $8.00.
C. purchase the stock. It is undervalued by approximately $8.00.

[单项选择]An analyst has gathered the following information about a company:
A. Balance Sheet
B. Assets
C. Cash
D. 100
E. Accounts Receivable
F. 750
G. Marketable Securities
H. 300
I. Inventory
J. 850
K. Property, Plant ＆ Equip
L. 900
M. Accumulated Depreciation

[单项选择]An investor has obtained the following information about Worldwide Industries, Inc. Net profit margin 8.7% Total asset turnover 2.4 times Dividendpayout ratio 35% Tax rate 35% Total sales $120 million Totalequity 40% of total assets Based on this information, Worldwide’s ROE is closest to:（）
A. 52.2%.
B. 14.5%.
C. 20.0%.

[单项选择]An investor gathered the following information on two U. S. corporate bonds: Bond J is callable with maturity of 5 years Bond J has a par value of $10000 Bond M is option-free with a maturity of 5 years Bond M has a par value of $1000 For each bond, which duration calculation should be applied Bond J Bond M（）
A. Effective Duration Effective Duration only
B. Modified Duration Modified Duration or Effective Duration
C. Effective Duration Modified Duration or Effective Duration

[单项选择]An investor gathered the following information about an option-free U. S. corporate bond: Par Value of $10 million Convexity of 45 Duration of 7 If interest rates increase 2 percent (200 basis points), the bond’s percentage price change is closest to:（　）
A. -14.0%
B. -15.8%
C. -12.2%

[单项选择]An analyst gathers the following information from a company's balance sheet (in millions):

	31 December 2011	31 December 2010
Cash and marketable securities	$66	$60
Receivables	$22	$20
Current assets	$132	$120
Total assets	$1498	$1345
Current liabilities	$242	$220
Total liabilities	$1189	$987

Based on the information, the company's liquidity ratios at the end of 2011 have:（）
A. decreased since the end of 2010.
B. remained the same since the end of 2010.
C. increased since the end of 2010.