Net Devices Inc. The following balance sheets and income statements are for Net Devices Inc., a manufacturer of small electronic devices, including calculators, personal digital assistants and mp3 players. For purposes of these questions assume that the company has an effective tax rate of 35%. BALANCE SHEETS ASSETS ($ in thousands) Fiscal year end 2021 2020 2019 Cash $875,650 $571,250 $154,230 Marketable securities 6,560 0 0 Receivables 771,580 775,250 902,000 Inventories 1,320,150 1,254,600 1,418,500 Other current assets 249,000 231,200 229,900 Total current assets 3,222,940 2,832,300 2,704,630 Property, plant & equipment 1,118,750 1,100,300 1,122,400 Intangibles 263,050 241,000 215,600 Deposits & other assets 184,500 168,250 168,900 Total assets $4,789,240 $4,341,850 $4,211,530 LIABILITIES ($ in thousands) Fiscal year end 2021 2020 2019 Accounts payable $1,178,540 $1,061,100 $1,138,250 Current long term debt 18,100 316,500 150,900 Accrued expenses 664,100 615,900 585,400 Income taxes payable 138,900 108,400 38,200 Other current liabilities 0 0 0 Total current liabilities 1,999,640 2,101,900 1,912,750 Long term debt 478,250 378,400 599,630 Other long term liabilities 13,350 0 0 Total liabilities 2,491,240 2,480,300 2,512,380 Preferred stock 850,000 850,000 550,000 Common stock net 4,000 3,950 3,800 Additional Paid-in Capital 869,000 758,000 689,500 Retained earnings 1,430,500 1,055,000 1,245,050 Treasury stock (855,500) (805,400) (789,200) Shareholders' equity 2,298,000 1,861,550 1,699,150 Total Liab. & Equity $4,789,240 $4,341,850 $4,211,530 INCOME STATEMENTS ($ in thousands) Fiscal year end 2021 2020 Net sales $11,465,500 $11,082,100 Cost of Goods Sold (8,026,450) (7,940,065) Gross profit 3,439,050 3,142,035 Selling, general & admin. Exp. (1,836,400) (1,789,200) Income before deprec. & amort. 1,592,650 1,352,835 Depreciation & amortization (785,250) (757,250) Interest expense (46,195) (43,340) Income before tax 771,205 552,245 Provision for income taxes (157,725) (112,290) Minority interest -- -- Net income $613,480 $439,955 Outstanding shares (in thousands) 308,515 303,095 Preferred Dividends (in thousands) $85,000 $85,000

Refer to the information for Net Devices Inc. What is the rate of return on assets for Net Devices for 2021?

a. 13.88% b. 11.64% c. 12.60% d. 14.09%

What is the profit margin for ROA for Net Devices for 2020?

	a.	7.26%
	b.	3.97%
	c.	5.00%
	d.	4.22%

What is the accounts receivable turnover ratio for Net Devices for 2021?

	a.	24.65
	b.	14.82
	c.	14.81
	d.	10.50

What is the inventory turnover for Net Devices for 2021?

	a.	2.51
	b.	10.32
	c.	6.23
	d.	8.90

What is Net Devices capital structure leverage ratio for 2021?

	a.	3.71
	b.	10.32
	c.	3.89
	d.	1.68

What is Net Devices earnings per share for 2021?

	a.	$1.96
	b.	$0
	c.	$1.70
	d.	$1.00