Marketing Math Student Workbook Ishver's Ice Cream is a leading producer of ice cream novelty items. In 2011 Ishver sold $250,000 worth of ice cream novelties. With a net income of $48,750. Ishver's Total Assets in 2011 were $200,000. What is Ishver's Return on Assets percentage? A. 20.4% B. 22.4% C. 24.4% D. 26.4% Paige Turner produces and sells instructional manuals for a variety of electronics manufacturers. In 2011 Paige sold $850,000 in instructional manuals. Paige's quarterly inventory levels were: Quarter 1 Quarter 2 Quarter 3 Quarter 4 $105,000 $110,000 $120,000 $ 115,000 What is Paige Turner's Inventory Turnover Rate? A. 4.22 B. 7.56 C. 10.85 D. 15.96 Given the information in Balance Sheet, Income Statement and Ending Inventory table below complete the calculations as required. Balance Sheet Assets Liabilities Current Assets Current Liabilities Accounts Receivable $12,000 Accounts Payable $85,000 Merchandise Inventory $125,000 Short Term Loan $35,000 Cash $7,500 Total Current Liabilities $120,000 Other Current Assets $36,000 Total Current Assets Long Term Liabilities Mortgage $95,000 Fixed Assets Bonds $7,500 Building $150,000 Total Long Term Liabilities $102,500 Equipment $35,000 Other Fixed Assets $10,000 Total Liabilities $222,500 Total Fixed Assets Owners Equity Owners Equity $153,000 Total Assets Total Liabilities and Owners' Equity $375,500 17 Page