1. Interest-on-Interest Consider a $2,200 deposit earning 6 percent interest per year for 9 years. How much total interest is earned on the original deposit (excluding interest earned on interest)?
2. Asset Management and Profitability Ratios You have the following information on Universe It Ts, Inc.: sales to working capital = 16 times, profit margin = 26.6%, net income available to common stockholders = $4.6 million, and current liabilities = $1.6 million. What is the firm's balance of current assets?