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Business, 18.06.2020 22:57 khloenm309

The following information pertains to Diane Company. Assume that all balance sheet amounts represent both average and ending balance figures. Assume that all sales were on credit. Use this information to answer the question that follow. Assets Cash and short-term investments $38,612 Accounts receivable (net) 27,852 Inventory 27,691 Property, plant, and equipment 265,063 Total assets $359,218 Liabilities and Stockholders' Equity Current liabilities $67,177 Long-term liabilities 88,562 Stockholders' equity—Common 203,479 Total liabilities and stockholders' equity $359,218 Income Statement Net Sales $88,992 Cost of goods sold (35,597) Gross margin 53,395 Operating expenses (27,302) Interest expense (4,450) Net income $21,643 Number of shares of common stock outstanding 6,044 Market price of common stock $35 Total dividends paid $8,900 Cash provided by operations $38,612 Using the data provided for Diane Company, what is the return on total assets? a.8.5% b.9.5% c.7.3% d.7.0%

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The following information pertains to Diane Company. Assume that all balance sheet amounts represent...

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