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At December 31 Assets Cash Accounts receivable, net Merchandise inventory Prepaid expenses Plant assets, net Total assets Liabilities and Equity Accounts payable Long-term notes payable
At December 31 Assets Cash Accounts receivable, net Merchandise inventory Prepaid expenses Plant assets, net Total assets Liabilities and Equity Accounts payable Long-term notes payable Common stock, $10 par value Retained earnings Total liabilities and equity Current Year 1 Year Ago 2 Years Ago $ 31,800 88,600 111,500 10,400 279,000 $ 35,750 62,500 80, 200 9,450 257,500 $ 445,400 $ 521,300 $ 129,200 $ 74,250 96,500 100,000 162,500 162,500 133,100 108,650 $ 521,300 $ 445,400 $ 37,600 49,500 52,500 5,300 229,000 $ 373,900 $ 51,000 80,200 162,500 80, 200 $ 373,900 The company's income statements for the Current Year and 1 Year Ago, follow. For Year Ended December 31 Sales Cost of goods sold Other operating expenses Interest expense Income tax expense Total costs and expenses Net income Earnings per share Current Year $ 463,150 243,350 12,100 9,550 $ 785,000 728,150 $ 56,850 $ 3.50 1 Year Ago $ 550,000 $ 346,500 132,000 12,900 8,850 500,250 $ 49,750 $ 3.06 Compute return on total assets for the current year and one year ago. Return On Total Assets Numerator: Net income Denominator: Average total assets Return On Total Assets Return on total assets Current Year: 0% 1 Year Ago: 0% Required 38 >
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