Given the following information for the Green Company: Net sales (all on account) $5,200,000 Interest expense 240,000 Income tax expense 280,000 Net income 420,000 Income tax rate 40% Total assets: January 1, 2010 $1,800,000 December 31, 2010 2,400,000 Stockholders' equity: January 1, 2010 1,500,000 December 31, 2010 1,600,000 Current assets, December 31, 2010 700,000 Quick assets, December 31, 2010 400,000 Current liabilities, December 31, 2010 300,000 Net accounts receivable: January 1, 2010 200,000 December 31, 2010 180,000 Green's return on total assets during 2010 was: Question 15 options: a) 20.0% b) 26.9% c) 31.4% d) 36.7%
Given the following information for the Green Company: Net sales (all on account) $5,200,000 Interest expense 240,000 Income tax expense 280,000 Net income 420,000 Income tax rate 40% Total assets: January 1, 2010 $1,800,000 December 31, 2010 2,400,000 Stockholders' equity: January 1, 2010 1,500,000 December 31, 2010 1,600,000 Current assets, December 31, 2010 700,000 Quick assets, December 31, 2010 400,000 Current liabilities, December 31, 2010 300,000 Net accounts receivable: January 1, 2010 200,000 December 31, 2010 180,000 Green's return on total assets during 2010 was: Question 15 options: a) 20.0% b) 26.9% c) 31.4% d) 36.7%
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
Related questions
Question
Given the following information for the Green Company:
Net sales (all on account) $5,200,000
Interest expense 240,000
Income tax expense 280,000
Net income 420,000
Income tax rate 40%
Total assets:
January 1, 2010 $1,800,000
December 31, 2010 2,400,000
Stockholders' equity:
January 1, 2010 1,500,000
December 31, 2010 1,600,000
Current assets, December 31, 2010 700,000
Quick assets, December 31, 2010 400,000
Current liabilities, December 31, 2010 300,000
Netaccounts receivable :
January 1, 2010 200,000
December 31, 2010 180,000
Green's return on total assets during 2010 was:
Net sales (all on account) $5,200,000
Interest expense 240,000
Income tax expense 280,000
Net income 420,000
Income tax rate 40%
Total assets:
January 1, 2010 $1,800,000
December 31, 2010 2,400,000
Stockholders' equity:
January 1, 2010 1,500,000
December 31, 2010 1,600,000
Current assets, December 31, 2010 700,000
Quick assets, December 31, 2010 400,000
Current liabilities, December 31, 2010 300,000
Net
January 1, 2010 200,000
December 31, 2010 180,000
Green's return on total assets during 2010 was:
Question 15 options:
|
|
|
||
|
|
|
||
|
|
|
||
|
|
|
Expert Solution
This question has been solved!
Explore an expertly crafted, step-by-step solution for a thorough understanding of key concepts.
This is a popular solution!
Trending now
This is a popular solution!
Step by step
Solved in 3 steps
Knowledge Booster
Learn more about
Need a deep-dive on the concept behind this application? Look no further. Learn more about this topic, accounting and related others by exploring similar questions and additional content below.Recommended textbooks for you
Accounting
Accounting
ISBN:
9781337272094
Author:
WARREN, Carl S., Reeve, James M., Duchac, Jonathan E.
Publisher:
Cengage Learning,
Accounting Information Systems
Accounting
ISBN:
9781337619202
Author:
Hall, James A.
Publisher:
Cengage Learning,
Accounting
Accounting
ISBN:
9781337272094
Author:
WARREN, Carl S., Reeve, James M., Duchac, Jonathan E.
Publisher:
Cengage Learning,
Accounting Information Systems
Accounting
ISBN:
9781337619202
Author:
Hall, James A.
Publisher:
Cengage Learning,
Horngren's Cost Accounting: A Managerial Emphasis…
Accounting
ISBN:
9780134475585
Author:
Srikant M. Datar, Madhav V. Rajan
Publisher:
PEARSON
Intermediate Accounting
Accounting
ISBN:
9781259722660
Author:
J. David Spiceland, Mark W. Nelson, Wayne M Thomas
Publisher:
McGraw-Hill Education
Financial and Managerial Accounting
Accounting
ISBN:
9781259726705
Author:
John J Wild, Ken W. Shaw, Barbara Chiappetta Fundamental Accounting Principles
Publisher:
McGraw-Hill Education