Answered step by step
Verified Expert Solution
Question
1 Approved Answer
Information Use the following information to answer the next ten questions: MEGAFRAME COMPUTER COMPANY Balance Sheet As of December 31, 2006 ASSETS Cash $ 40,000
Information Use the following information to answer the next ten questions: MEGAFRAME COMPUTER COMPANY Balance Sheet As of December 31, 2006 ASSETS Cash $ 40,000 Accounts Receivable 60,000 Inventory 90,000 New Plant and Equipment 220,000 Total Assets $410,000 LIABILITIES AND STOCKHOLDERS' EQUITY Accounts Payable $ 60,000 Accrued Expenses 40,000 Long-Term debt 130,000 Common Stock 60,000 Paid-In capital 20,000 Retained earnings 100,000 Total Liabilities and Stockholders' Equity $410,000 MEGAFRAME COMPUTER COMPANY Income Statement For the Year Ended December 31, 2006 Sales (all on credit) $720,000 Cost of Goods Sold 500,000 Gross Profit 220,000 Sales and Administrative Expense 20,000 Depreciation 40,000 Operating Profit 160,000 Interest Expense 16,000 Profit before Taxes 144,000 Taxes (30%) 43,200 Net Income $100,800 Printable Version Question 32 (1 point) Using the DuPont method, return on assets (investment) for Megaframe Computer is approximately Question 32 options: 15% 25% 29% 35%
Step by Step Solution
There are 3 Steps involved in it
Step: 1
Get Instant Access to Expert-Tailored Solutions
See step-by-step solutions with expert insights and AI powered tools for academic success
Step: 2
Step: 3
Ace Your Homework with AI
Get the answers you need in no time with our AI-driven, step-by-step assistance
Get Started