Survey of Accounting (Accounting I)
Survey of Accounting (Accounting I)
8th Edition
ISBN: 9781305961883
Author: Carl Warren
Publisher: Cengage Learning
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Question: General Accounting

Question:
Consider the following facts for Company A:
Assume that all balance sheet amounts represent both average and ending balance figures. Assume that all sales were on
credit.
Assets
Cash and short-term investments
$ 45,000
Inventory
Accounts receivable (net)
Property, plant, and equipment
Total assets
Liabilities and Stockholders' Equity
25,000
20,000
210,000
$ 300,000
Current liabilities
Long-term liabilities
$ 50,000
90,000
Stockholders' equity- common
Total liabilities and stockholders' equity $300,000
160,000
Income Statement
Sales
Cost of goods sold
Gross profit
Operating expenses
$ 120,000
66,000
54,000
30,000
$ 24,000
6,000
$20
.50
Net income
Number of shares of common stock
Market price of common stock
Dividends per share
What is the return on assets for Company A?
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Transcribed Image Text:Question: Consider the following facts for Company A: Assume that all balance sheet amounts represent both average and ending balance figures. Assume that all sales were on credit. Assets Cash and short-term investments $ 45,000 Inventory Accounts receivable (net) Property, plant, and equipment Total assets Liabilities and Stockholders' Equity 25,000 20,000 210,000 $ 300,000 Current liabilities Long-term liabilities $ 50,000 90,000 Stockholders' equity- common Total liabilities and stockholders' equity $300,000 160,000 Income Statement Sales Cost of goods sold Gross profit Operating expenses $ 120,000 66,000 54,000 30,000 $ 24,000 6,000 $20 .50 Net income Number of shares of common stock Market price of common stock Dividends per share What is the return on assets for Company A?
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