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I thought this question would have been 10.9%- Can I get some clarity on why the answer is 5.7? Income Statement Sales $81,356 Cost of
I thought this question would have been 10.9%- Can I get some clarity on why the answer is 5.7?
Income Statement Sales $81,356 Cost of goods sold 32,542 Gross margin $48,814 Operating expenses (28,296) Interest expense (4,068) Net income $16,450 Number of shares of common stock outstanding 6,923 Market price of common stock $26 Total dividends paid $9,000 Cash provided by operations $30,000 What is the return on total assets for Diane Company? Oa. 0.8% b. 2.5% c. 10.9% d. 5.7% Income Statement Sales $81,356 Cost of goods sold 32,542 Gross margin $48,814 Operating expenses (28,296) Interest expense (4,068) Net income $16,450 Number of shares of common stock outstanding 6,923 Market price of common stock $26 Total dividends paid $9,000 Cash provided by operations $30,000 What is the return on total assets for Diane Company? Oa. 0.8% b. 2.5% c. 10.9% d. 5.7%Step by Step Solution
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