All of the following are reasons that pharmaceutical companies have higher barriers for entry than grocery stores except:  

Which of the following might an analyst not want to eliminate from past earnings when using past earnings to forecast future earnings?  

As products move through the maturity phase, companies invest to ___________ productive capacity.  

The profit margin for ROA indicates the ability of a firm to generate earnings for a particular level of:  

When a firm attempting to create unique products or services for particular market niches, in order to achieve relatively high profit margins, this is best known as:  

The prospectus must be filed with the before the company can sell new issues of stocks or bonds.

Santa CorporationNOTE: These multiple choice questions require present value information.Santa Corporation manufactures Christmas decorations and supplies throughout the world. The company owns property, plants, and equipment and also enters into leases for certain facilities. Assume that Santa’s incremental borrowing rate is 8%. The company’s tax rate is 40%. Listed below are selected financial data for Santa and a portion of the company’s lease footnote. Year 2 Year 1 Year 0 Property, Plant, & Equipment (net) $882,468 $717,453 $658,214 Total Assets 1,756,854 1,405,484 1,254,896 Common Shareholders’ Equity 867,992 652,626 587,951 Sales $2,922,915 $2,415,632 Cost of Goods Sold 2,016,811 1,642,630 Depreciation Expense 78,584 67,542 Interest Expense 106,663 90,343 Net Income 248,448 217,407    2 Santa Corp. Lease Disclosure (amounts in thousands) Lease Commitments at the end of Year 2 Year Reported Lease Commitments Year 3 $148,239 Year 4 $252,800 Year 5 $278,327 Year 6 $279,210 Year 7 $285,452 Beyond Year 7 $2,471,600 Assuming that Santa Corporation was required to capitalize its lease, how would the company’s fixed asset ratio change under this assumption?  

Present value methods are often used with receivables and liabilities:  

Sustainable earnings represent:  

Basic EPS is calculated as net income minus divided by the weighted average number of shares outstanding.