The Foundational 15 (Algo) [LO14-2, LO14-3, LO14-4, LO14-5, LO14-6] [The following information applies to the questions displayed below.] Markus Company's common stock sold for $5.50 per share at the end of this year. The company paid a common stock dividend of $0.77 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 Ending Balance $ 54,500 $ 100,000 $ 79,000 $ 233,500 $ 857,000 Beginning Balance $ 47,200 $ 71,200 $ 100,000 $ 218,400 $ 938,800 $ 91,500 $ 100,500 $ 232,000 $ 208,800 $ 171,000 $ 171,000 $ 625,000 $ 730,000 $ 857,000 $ 938,800 This Year Sales (all on account) Cost of goods sold Gross margin Net operating income Interest expense Net income $ 1,195,000 $ 693,100 $ 501,900 $ 338,250 $ 16,500 $ 225,225 Foundational 14-4 (Algo) 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%) Return on total assets %

The Foundational 15 (Algo) [LO14-2, LO14-3, LO14-4, LO14-5, LO14-6] [The following information applies to the questions displayed below.] Markus Company's common stock sold for $5.50 per share at the end of this year. The company paid a common stock dividend of $0.77 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 Ending Balance $ 54,500 $ 100,000 $ 79,000 $ 233,500 $ 857,000 Beginning Balance $ 47,200 $ 71,200 $ 100,000 $ 218,400 $ 938,800 $ 91,500 $ 100,500 $ 232,000 $ 208,800 $ 171,000 $ 171,000 $ 625,000 $ 730,000 $ 857,000 $ 938,800 This Year Sales (all on account) Cost of goods sold Gross margin Net operating income Interest expense Net income $ 1,195,000 $ 693,100 $ 501,900 $ 338,250 $ 16,500 $ 225,225 Foundational 14-4 (Algo) 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%) Return on total assets %

Intermediate Accounting: Reporting And Analysis

3rd Edition

ISBN:9781337788281

Author:James M. Wahlen, Jefferson P. Jones, Donald Pagach

Publisher:James M. Wahlen, Jefferson P. Jones, Donald Pagach

Chapter16: Retained Earnings And Earnings Per Share

Section: Chapter Questions

Problem 19E: Lyon Company shows the following condensed income statement information for the year ended December...

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