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Markus Company's common stock sold for $6.50 per share at the end of this year. The company paid a common stock dividend of $0.91 per
Markus Company's common stock sold for $6.50 per share at the end of this year. The company paid a common stock dividend of $0.91 per share this year. It also provided the following data excerpts from this year's financial statements: Ending Balance Beginning Balance Cash $ 57,580 $ 50,000 Accounts receivable $ 108,000 $ 75,000 Inventory $ 83,500 $ 108,000 Current assets $ 249,000 $ 233,000 Total assets $ 975,000 $ 1,086, 000 Current liabilities $ 97,500 $ 109,500 Total liabilities $ 240,000 $ 216,000 Common stock, $1 par value $ 185,000 $ 185,000 Total stockholders' equity $ 735,000 $ 870,000 Total liabilities and stockholders' equity $ 975,000 $ 1,086,000 Sales (all on account) Cost of goods sold Gross margin Net operating income Interest expense Net income This Year $ 1,275,000 $ 739,500 $ 535,500 $ 419, 250 $ 19,500 $ 279,825 Foundational 14-4 (Algo) 4 What is the return on total assets (assuming a 30% tax rate)? (Round percentage answer to 1 decimal place. I.e., 0.123 should be considered as 12.3%)
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