he 2019 financial statements for Growth Industries are presented below. Sales Costs EBIT Interest expense Taxable income Taxes (at 21%) Net income Dividends Addition to retained earnings Current assets Cash INCOME STATEMENT, 2019 Total assets Assets Accounts receivable Inventories Total current assets Net plant and equipment $ 21,488 $ 32,232 BALANCE SHEET, YEAR-END, 2019 Current liabilities Accounts payable Total current liabilities Long-term debt $ 3,000 8,000 29,000 $ 270,000 185,000 $ 85,000 17,000 $ 68,000 14,280 $ 53,720 $ 40,000 210,000 $ 250,000 Liabilities Stockholders' equity Common stock plus additional paid-in capital Retained earnings Total liabilities plus stockholders' equity $ 10,000 $ 10,000 170,000 15,000 55,000 $ 250,000

he 2019 financial statements for Growth Industries are presented below. Sales Costs EBIT Interest expense Taxable income Taxes (at 21%) Net income Dividends Addition to retained earnings Current assets Cash INCOME STATEMENT, 2019 Total assets Assets Accounts receivable Inventories Total current assets Net plant and equipment $ 21,488 $ 32,232 BALANCE SHEET, YEAR-END, 2019 Current liabilities Accounts payable Total current liabilities Long-term debt $ 3,000 8,000 29,000 $ 270,000 185,000 $ 85,000 17,000 $ 68,000 14,280 $ 53,720 $ 40,000 210,000 $ 250,000 Liabilities Stockholders' equity Common stock plus additional paid-in capital Retained earnings Total liabilities plus stockholders' equity $ 10,000 $ 10,000 170,000 15,000 55,000 $ 250,000

Essentials Of Investments

11th Edition

ISBN:9781260013924

Author:Bodie, Zvi, Kane, Alex, MARCUS, Alan J.

Publisher:Bodie, Zvi, Kane, Alex, MARCUS, Alan J.

Chapter1: Investments: Background And Issues

Section: Chapter Questions

Problem 1PS

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Some selected financial statement items belonging to Tower Company are given in the table below. According to this information, which of the following is Return on Assets (ROA) in 2021? Inventory 12,500 Total Assets in 2021 100,000 Current Liabilities 30,000 Total Assets in 2020 80,000 Net Profit 18,000 Shareholders' Equity 65,000 Select one: a. 24% b. 20% c. 11% d. 15%
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