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Mock Corp. reported the following comparative balance sheets for the years-ended December 31, 2020 and 2019 (2020 and 2019, respectively); and the income statement for
Mock Corp. reported the following comparative balance sheets for the years-ended December 31, 2020 and 2019 ("2020" and "2019", respectively); and the income statement for 2020: - Builaing costing $1,000,000 was disposed of during the year. No additional building was purchased. - Mock Corp. dedared and paid dividends to its shareholders in 2020. - Mock Corp. treats all dividend income and payments as financing activities. Additional Information - Mock Corp. repurchased common shares in 2020 by paying $100,000 cash. - All interest expenses are related to the bonds payables. - Building costing $1,000,000 was disposed of during the year. No additional building was purchased. - Mock Corp. declared and paid dividends to its shareholders in 2020. - Mock Corp. treats all dividend income and payments as financing activities. The return on sales ratio for 2020 was: a. None of the other alternatives are correct b. 42.50% C. 50.00% d. 1.75% e. 3.50%
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