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Inventory and prepaid expenses account for $30,000 of the current year's current assets. Average inventory for the current year is $36, 250. Average net accounts
Inventory and prepaid expenses account for $30,000 of the current year's current assets. Average inventory for the current year is $36, 250. Average net accounts receivable for the current year is $45,000. There are 35,000 shares of common stock outstanding. Total dividends paid during the current year were $17,000. The market price per share of common stock is $20. What is the rate of return on net sales for the current year? A. 0.11 B. 9.36 C. 0.28 D. 0.15
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