**Different questions to answer than previous similar answered

Orca Industries

Below are the two most recent balance sheets and most recent income statement for Orca Industries. The company has an effective tax rate of 35%.

Balance Sheet
	2011	2010
Assets:
Cash	$10,000	$ 6,000
Accounts Receivable (net)	6,000	1,500
Inventory	8,000	10,000
Long-lived assets	12,000	11,000
Less: Accumulated depreciation	(4,000)	(2,000)
Total assets	$32,000	$26,500
Liabilities and Stockholders Equity:
Accounts payable	$ 5,000	$ 6,000
Deferred revenues	1,000	2,000
Long-term note payable	10,000	10,000
Less: Discount on note payable	(800)	(1,000)
Common stock	12,000	6,000
Retained earnings	4,800	3,500
Total liabilities and stockholders equity	$32,000	$26,500

Income Statement

For the year ended December 31, 2011

Revenues	$42,000
Cost of goods sold	(24,000)
Depreciation expense	(2,000)
Interest expense	(3,000)
Bad debt expense	(2,000)
Other expense (including income taxes)	(9,000)
Net income	$ 2,000

1. Refer to the information for Orca Industries. The return on assets for Orca Industries is:

2. Refer to the information for Orca Industries. The return on common shareholders equity for Orca Industries is:

3. Refer to the information for Orca Industries. The profit margin for computing ROA for Orca Industries is:

4. Refer to the information for Orca Industries. Orcas asset turnover is:

5. Refer to the information for Orca Industries. Orcas accounts receivable turnover is (assume that Orca makes all sales on account):

6. Refer to the information for Orca Industries. Orcas basic earnings per share is: HINT: You don't need the number of shares to calculate basic earnings per share. It would help if you asked yourselves, who receives net income. I would look at the balance sheet!