The following information pertains to Dallas Company. Assume that all balance sheet amounts represent both average and ending balance figures and that all sales were on credit. Assets Line Item Description Amount Cash and short-term investments $35,940 Accounts receivable (net) 27,501 Inventory 32,905 Property, plant, and equipment 244,703 Total assets $341,049 Liabilities and Stockholders’ Equity Line Item Description Amount Current liabilities $66,328 Long-term liabilities 99,677 Common stock, $20 par 101,260 Retained earnings 73,784 Total liabilities and stockholders' equity $341,049 Income Statement Line Item Description Amount Sales $88,038 Cost of goods sold (39,617) Gross profit $48,421 Operating expenses (29,760) Net income $18,661 Line Item Description Amount Shares of common stock 5,063 Market price per share of common stock $20 Dividends per share $1.00 Cash provided by operations $40,000 What is the return on stockholders' equity?
The following information pertains to Dallas Company. Assume that all balance sheet amounts represent both average and ending balance figures and that all sales were on credit. Assets Line Item Description Amount Cash and short-term investments $35,940 Accounts receivable (net) 27,501 Inventory 32,905 Property, plant, and equipment 244,703 Total assets $341,049 Liabilities and Stockholders’ Equity Line Item Description Amount Current liabilities $66,328 Long-term liabilities 99,677 Common stock, $20 par 101,260 Retained earnings 73,784 Total liabilities and stockholders' equity $341,049 Income Statement Line Item Description Amount Sales $88,038 Cost of goods sold (39,617) Gross profit $48,421 Operating expenses (29,760) Net income $18,661 Line Item Description Amount Shares of common stock 5,063 Market price per share of common stock $20 Dividends per share $1.00 Cash provided by operations $40,000 What is the return on stockholders' equity?
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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Question
The following information pertains to Dallas Company. Assume that all
Assets
| Line Item Description | Amount |
|---|---|
| Cash and short-term investments | $35,940 |
| 27,501 | |
| Inventory | 32,905 |
| Property, plant, and equipment | 244,703 |
| Total assets | $341,049 |
Liabilities and
| Line Item Description | Amount |
|---|---|
| Current liabilities | $66,328 |
| Long-term liabilities | 99,677 |
| Common stock, $20 par | 101,260 |
| 73,784 | |
| Total liabilities and stockholders' equity | $341,049 |
Income Statement
| Line Item Description | Amount |
|---|---|
| Sales | $88,038 |
| Cost of goods sold | (39,617) |
| Gross profit | $48,421 |
| Operating expenses | (29,760) |
| Net income | $18,661 |
| Line Item Description | Amount |
|---|---|
| Shares of common stock | 5,063 |
| Market price per share of common stock | $20 |
| Dividends per share | $1.00 |
| Cash provided by operations | $40,000 |
What is the return on stockholders' equity?
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