23 Wht r the idends er common stare fi ompany a. $20.00 b. $3.33 d. $0.90 The independent auditor's report does which of the following? 24. describes which financial statements are covered by the audit b. a. gives the auditor's opinion regarding the fairness of the financial statements summarizes what the auditor did c. d. states that the financial statements were presented on time 25. An extraordinary item results from a. a segment of the business being sold. b. corporate income tax being paid. c. a change from one accounting method to another acceptable accounting method. d. a transaction or event that is unusual and occurs infrequently The following information pertains to Carltion Company. Assume that all alales were on amounts represent both average and ending balance figures. Assume credit. that all sa Cash and short-term investments Accounts receivable (net) Inventory Property, plant and equipment Assets S 40,000 25,000 20,000 Total assets $295.000 Liabilities and Stockholders' Equity Current liabilities Long-term liabilities Stockholders' equity-common 60,000 85,000 150,000 $295,000 Total liabilities and stockholders' equity Income Statement S 85,000 45,000 40,000 15,000 Net sales Cost of goods sold Gross margin Interest expense $ 20.000 Net income 6,000 s 20 $ 5,400 $30,000 Number of shares of common stock Market price of common stock Total dividends paid Cash provided by operations What is the ratio of net sales to total assets for this company? Round your answer to two decimal points. a. 1.00 b. 1.89 c. 0.36 d. 0.29 21. What is the rate earned on total assets for this company? Round your answer to one decimal point. a. 8.5% b. 6.8% c. 10.3% d. 13.3% 22