7. The following information pertains to Unique Company. Assume that all balance sheet amounts represent both average and ending balance figures. Assume that all sales were on credit Assets Cash and short-term investments $ 40,000 Accounts receivable (net) 25,000 Inventory 20,000 Property, plant and equipment 210,000 Total Assets $295,000 Liabilities and Stockholders' Equity Current liabilities $ 60,000 Long-term liabilities 85.000 Stockholders' equity-common 150.000 Total Liabilities and Stockholders' Equity $295.000 Income Statement S 85.000 Sales revenue 45.000 Cost of goods sold 40.000 Gross margin 20.000 Operating expenses Net income S 20.000 Number of shares of common stock 6,000 Market price of common stock 520 0.90 Dividends per share on common stock Cash provided by operations $30,000 What is the return on assets for this company? A) 26.75 B) 6.85 C) 10.0% D) 11.79 8. What activities and responsibilities are not associated with management's functions? A) Controlling B) Directing C) Accountability D) Planning 9. Managerial accounting information is generally prepared for A) creditors. B) regulatory agencies. C) stockholders D) managers Yersion 1 Page 3