Given the following information for the Green Company: Net sales (all on account) $5,200,000 Interest expense 240,000 Income tax expense 280,000 Net income 420,000 Income tax rate 40% Total assets: January 1, 2010 $1,800,000 December 31, 2010 2,400,000 Stockholders' equity: January 1, 2010 1,500,000 December 31, 2010 1,600,000 Current assets, December 31, 2010 700,000 Quick assets, December 31, 2010 400,000 Current liabilities, December 31, 2010 300,000 Net accounts receivable: January 1, 2010 200,000 December 31, 2010 180,000 Green's return on total assets during 2010 was: Question 15 options: a) 20.0% b) 26.9% c) 31.4% d) 36.7%
Given the following information for the Green Company: Net sales (all on account) $5,200,000 Interest expense 240,000 Income tax expense 280,000 Net income 420,000 Income tax rate 40% Total assets: January 1, 2010 $1,800,000 December 31, 2010 2,400,000 Stockholders' equity: January 1, 2010 1,500,000 December 31, 2010 1,600,000 Current assets, December 31, 2010 700,000 Quick assets, December 31, 2010 400,000 Current liabilities, December 31, 2010 300,000 Net accounts receivable: January 1, 2010 200,000 December 31, 2010 180,000 Green's return on total assets during 2010 was: Question 15 options: a) 20.0% b) 26.9% c) 31.4% d) 36.7%
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
Related questions
Question
Given the following information for the Green Company:
Net sales (all on account) $5,200,000
Interest expense 240,000
Income tax expense 280,000
Net income 420,000
Income tax rate 40%
Total assets:
January 1, 2010 $1,800,000
December 31, 2010 2,400,000
Stockholders' equity:
January 1, 2010 1,500,000
December 31, 2010 1,600,000
Current assets, December 31, 2010 700,000
Quick assets, December 31, 2010 400,000
Current liabilities, December 31, 2010 300,000
Net accounts receivable:
January 1, 2010 200,000
December 31, 2010 180,000
Green's return on total assets during 2010 was:
Net sales (all on account) $5,200,000
Interest expense 240,000
Income tax expense 280,000
Net income 420,000
Income tax rate 40%
Total assets:
January 1, 2010 $1,800,000
December 31, 2010 2,400,000
Stockholders' equity:
January 1, 2010 1,500,000
December 31, 2010 1,600,000
Current assets, December 31, 2010 700,000
Quick assets, December 31, 2010 400,000
Current liabilities, December 31, 2010 300,000
Net accounts receivable:
January 1, 2010 200,000
December 31, 2010 180,000
Green's return on total assets during 2010 was:
Question 15 options:
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