C.19. Sales (all on account)Cost of goods soldGross marginNet operating incomeInterest expenseNet incomeThis Year$750,000$440,000$ 310,000$ 162,000$ 9,000$ 101,000Required:What is the return on total assets (assuming a 30% tax rate) ? (Round your answer to 1decimal place.)Return on total assets55.0 % Markus Company's common stock sold for $3.00 per share at the end of this year. Thecompany paid preferred stock dividends totaling $4,400 and a common stock dividendof $0.63 per share this year. It also provided the following data excerpts from this year'sfinancial statements:CashAccounts receivableInventoryCurrent assetsTotal assetsCurrent liabilitiesTotal liabilitiesEndingBalance$ 31,000$ 64,000$59,200$154,200 $149,900BeginningBalance$32,200Preferred stockCommon stock, $1 par valueTotal stockholders' equityTotal liabilities and stockholders' equity $490,000$42.000$ 84,000$350,000$490,000 $$ 63,000$ 140,000$53,700$ 64,000506,000$ 49,500126,000$ 42,000$ 84,000$380,000Saved506,000

Ratio analysis helps to analyze the financial statements of the company. The management can take…

Sales (all on account) Cost of goods sold Gross margin Net operating income Interest expense Net income This Year $750,000 $440,000 $310,000 $162,000 Return on total assets $ 9,000 $ 101,000 Required: What is the return on total assets (assuming a 30% tax rate) ? (Round your answer to 1 decimal place.) 55.0 %

Sales (all on account) Cost of goods sold Gross margin Net operating income Interest expense Net income This Year $750,000 $440,000 $310,000 $162,000 Return on total assets $ 9,000 $ 101,000 Required: What is the return on total assets (assuming a 30% tax rate) ? (Round your answer to 1 decimal place.) 55.0 %

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

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