Markus Company's common stock sold for $3.00 per share at the end of this year. The company paid a comm dividend of $0.48 per share this year. It also provided the following data excerpts from this year's financial stat Cash Accounts receivable Inventory Current assets Total assets Current liabilities Total liabilities Common stock, $1 par value Total stockholders' equity Total liabilities and stockholders' equity Sales (all on account) Cost of goods sold Gross margin This Year $ 750,000 $ 440,000 $ 310,000 Ending Balance $ 31,000 $ 64,000 $ 59,200 $ 154,200 $ 490,000 $ 63,000 $ 140,000 $ 126,000 $ 350,000 $ 490,000 Beginning Balance $ 32,200 $ 53,700 $ 64,000 $ 149,900 $ 506,000 $ 49,500 $ 126,000 $ 126,000 $ 380,000 $ 506,000
Markus Company's common stock sold for $3.00 per share at the end of this year. The company paid a comm dividend of $0.48 per share this year. It also provided the following data excerpts from this year's financial stat Cash Accounts receivable Inventory Current assets Total assets Current liabilities Total liabilities Common stock, $1 par value Total stockholders' equity Total liabilities and stockholders' equity Sales (all on account) Cost of goods sold Gross margin This Year $ 750,000 $ 440,000 $ 310,000 Ending Balance $ 31,000 $ 64,000 $ 59,200 $ 154,200 $ 490,000 $ 63,000 $ 140,000 $ 126,000 $ 350,000 $ 490,000 Beginning Balance $ 32,200 $ 53,700 $ 64,000 $ 149,900 $ 506,000 $ 49,500 $ 126,000 $ 126,000 $ 380,000 $ 506,000
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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Transcribed Image Text:Markus Company's common stock sold for $3.00 per share at the end of this year. The company paid a common stock
dividend of $0.48 per share this year. It also provided the following data excerpts from this year's financial statements:
Cash
Accounts receivable
Inventory
Current assets
Total assets
Current liabilities
Total liabilities
Common stock, $1 par value
Total stockholders' equity
Total liabilities and stockholders' equity
Sales (all on account)
Cost of goods sold
Gross margin
Net operating income
Interest expense
Net income
Foundational 14-4 (Algo)
Return on total assets
This Year
$ 750,000
$ 440,000
$ 310,000
$ 162,000
21.5 %
$ 9,000
$ 107,100
Ending Balance
$ 31,000
$ 64,000
$ 59,200
$ 154,200
$ 490,000
$ 63,000
$ 140,000
$ 126,000
$ 350,000
$ 490,000
Beginning Balance
$ 32,200
$ 53,700
$ 64,000
$ 149,900
$ 506,000
$ 49,500
$ 126,000
$ 126,000
4. What is the return on total assets (assuming a 30% tax rate)? (Round percentage answer to 1 decimal place. i.e., 0.123 should be
considered as 12.3%)
$ 380,000
$ 506,000
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