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Current Attempt in Progress The following information pertains to Oriole Company. Assume that all balance sheet amounts represent both average and ending balance figures. Assume
Current Attempt in Progress The following information pertains to Oriole 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 $ 40000 Accounts receivable (net) 24000 Inventory 19000 Property, plant and equipment 211000 Total Assets $ 294000 Liabilities and Stockholders' Equity Current liabilities $ 62000 Long-term liabilities 86000 Long-term liabilities 86000 Stockholders' equity-common 146000 Total Liabilities and Stockholders' Equity $ 294000 Income Statement Sales revenue $ 85600 Cost of goods sold 44100 Gross margin 41500 Operating expenses 24448 Net income $ 17052 Number of shares of common stock 6600 Number of shares of common stock 6600 Market price of common stock $ 20 Dividends per share on common stock 0.90 Cash provided by operations $ 30200 What is the return on assets for this company? O 5.8% O 10.0% 0-11.7% O 25.7%
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