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Calculator The following information pertains to Newman Company. Assume that all balance sheet amounts represent both average and ending balance figures and that all sales

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Calculator The following information pertains to Newman Company. Assume that all balance sheet amounts represent both average and ending balance figures and that all sales were on credit. Assets Cash and short-term investments $40,000 Accounts receivable (net) 30,000 Inventory 25,000 Property, plant and equipment 215,000 Total Assets $310,000 Liabilities and Stockholders' Equity Current liabilities Long-term liabilities Common stock Retained earnings Total liabilities and stockholders' equity $60,000 95,000 80,000 75,000 $310,000 Income Statement Sales $90,000 45,000 Cost of goods sold Gross margin Operating expenses $45,000 20,000 $25,000 Net Income Previous All work saved Save and Exe Submit Assi Total liabilites NU SLULIT Income Stateme $90,000 45,000 Sales Cost of goods sold Gross margin $45,000 20,000 Operating expenses $25,000 Net income 6,000 $40 Number of shares of common stock Market price of common stock Dividends per share Cash provided by operations What is the return on total assets for this company? $1.00 $40,000 a. 10.5% b. 15.1% c. 6.896 d. 8.1%

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