Return to course Suc Question 4 Not complete Marked out of 6.00 P Flag question Return on Assets The following financial data is from Brenner Instruments' financial statements (thousands of dollars, except earnings per share.) 2019 Sales revenue Cost of goods sold Net Income Dividends Earnings per share $210,000 125.000 8.300 2.600 4.15 BRENNER INSTRUMENTS, INC Balance Sheet (Thousands of Dollars) Dec 31, 2019 Dec 31, 2018 Assets Cash $18.300 $18.000 Accounts receivable (net) 46.000 41.000 Inventory 39.500 43.700 Total current assets 103.800 102.700 52.600 50.500 Pant assets then 15600 Other assets 13.300 Type here to search a o mua pepprattempt=496/768&cmid=262339&page=3 SI 43.700 102.700 50,500 13,800 $167,000 = Basingstourse Return to course TRECONSTELLUNG U Inventory 39,500 Total current assets 103,800 Plant assets (net) 52,600 Other assets 15,600 Total assets $172.000 Liabilities and Stockholders' Equity Notes payable-banks 56,000 Accounts payable 22.500 Accrued liabilities 16,500 Total current liabilities 45.000 9% Bonds payable 40.000 Total liabilities 85,000 Common stock 525 par value (2.000.000 shares) 50,000 Retained earnings 37,000 Total stockholders equity 87.000 Total liabilities and stockholders equity $172.000 $6.000 18.700 21,000 45.700 40.000 85.700 50,000 31,300 81.300 $167,000 Industry Average Ratios for Competitors Quick ratio 1.3 Current ratio Accounts receivable turnover 5.9 times Inventory tumover 35 times Debt-to-equity ratio 0.73 Gross profit percentage 12.1 percent Return on tales 45 percent Return on assets 7.6 percent Type here to search O i a FR 1 mybusinesscourse.com/platform/mod/quattempt.phplattemp90/100-2025592Yu- Return to course Total stockholders' equity Total liabilities and stockholders' equity 87,000 $172.000 81.300 $167.000 Industry Average Ratios for Competitors Quick ratio 1.3 Current ratio 2.4 Accounts receivable turnover 5.9 times Inventory turnover 3.5 times Debt-to-equity ratio 0.73 Gross profit percentage 42.8 percent Return on sales 4.5 percent Return on assets 7.6 percent Calculate the company's return on assets for 2019. Round answer to one decimal place. (Ex: 0.2345 = 23.5%) Compare the result to the industry average. Brenner Instruments ratio is higher than the industry average CBrenner Instruments ratio is lower than the industry average Check O e ST a Type here to search 9