Gregor's Gewgaws provides the following income statement information for this fiscal year: Revenues $325,000 Variable Expenses $195,000 Fixed Expenses $97,500 Таx Expense $13,000 Gregor has only two assets – a factory and a plot of land. The factory was purchased five years ago for $783,750. The factory had accumulated depreciation of $104,500 at the beginning of the year and Gregor's will take an additional $52,250 of depreciation on it this year. The firm purchased the plot of land for $85,000 and expects to build a new factory on it, but has not yet started development. No assets were purchased or sold during this fiscal year. What was the return on investment for Gregor's Gewgaws this year? EXPRESS YOUR ANSWER AS A PERCENTAGE ROUNDED TO TWO DECIMAL PLACES A 1 Return on investment

Gregor's Gewgaws provides the following income statement information for this fiscal year: Revenues $325,000 Variable Expenses $195,000 Fixed Expenses $97,500 Таx Expense $13,000 Gregor has only two assets – a factory and a plot of land. The factory was purchased five years ago for $783,750. The factory had accumulated depreciation of $104,500 at the beginning of the year and Gregor's will take an additional $52,250 of depreciation on it this year. The firm purchased the plot of land for $85,000 and expects to build a new factory on it, but has not yet started development. No assets were purchased or sold during this fiscal year. What was the return on investment for Gregor's Gewgaws this year? EXPRESS YOUR ANSWER AS A PERCENTAGE ROUNDED TO TWO DECIMAL PLACES A 1 Return on investment

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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