Marketing Math Assets Current Assets Accounts Receivable Merchandise Inventory Cash Other Current Assets Total Current Assets Student Workbook Balance Sheet Liabilities Current Liabilities $8,000 Accounts Payable $55,000 $80,000 Short Term Loan $25,000 $5,000 Total Current Liabilities $80,000 $35,000 $128,000 Long Term Liabilities Mortgage $80,000 Bonds $3,500 $100,000 Total Long Term Liabilities $83,500 $25,000 $10,000 Total Liabilities $163,500 $3,000 $138,000 Owners Equity Owners Equity $102,500 Fixed Assets Building Equipment Other Fixed Assets Depreciation Total Fixed Assets Total Assets $266,000 Total Liabilities and Owners' Equity $266,000 Income Statement Us e the information in the balance sheet and income statement to calculate the Return on Assets for Yao's Yo Yo's. Total Net Sales Total COGS Gross Profit $750,000 $425,000 $325,000 Expenses Selling, General & Administrative Financing Total Expenses Net Profit Before Tax (EBT) 30% Tax Rate Net Income After Tax $150,000 $3,500 $153,500 $171,500 $51,450 $120,050 * 100 * 100 X Return on Assets