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Santiago Systems Comparative Balance Sheets At December 3 1 , 2 0 X 1 and 2 0 X 2 2 0 X 1 2 0
Santiago Systems Comparative Balance Sheets At December X and X XX Assets Current assets: Cash $ $ Marketable securities Accounts receivable net Inventories Other Total current assets $ $ Property and equipment: Land $ $ Building and equipment net Total longterm assets $ $ Total assets $ $ Liabilities and Stockholders' Equity Current liabilities: Notes payable, short term $ $ Accounts payable Current maturity of longterm debt Accrued payables Total current liabilities $ $ Longterm liabilities: Bonds payable, Total liabilities $ $ Stockholders' equity: Preferred stock, $ par, $ $ Common stock, $ par Additional paidin capital Retained earnings Total stockholders' equity $ $ Total liabilities and stockholders' equity $ $ For common stock only. Assume a tax rate of Required: Calculate the average total assets. Calculate the return on assets. Round your answer to two decimal places.
Santiago Systems
Comparative Balance Sheets
At December X and X
XX
Assets
Current assets:
Cash $ $
Marketable securities
Accounts receivable net
Inventories
Other
Total current assets $ $
Property and equipment:
Land $ $
Building and equipment net
Total longterm assets $ $
Total assets $ $
Liabilities and Stockholders' Equity
Current liabilities:
Notes payable, short term $ $
Accounts payable
Current maturity of longterm debt
Accrued payables
Total current liabilities $ $
Longterm liabilities:
Bonds payable,
Total liabilities $ $
Stockholders' equity:
Preferred stock, $ par, $ $
Common stock, $ par
Additional paidin capital
Retained earnings
Total stockholders' equity $ $
Total liabilities and stockholders' equity $ $
For common stock only.
Assume a tax rate of
Required:
Calculate the average total assets.
Calculate the return on assets. Round your answer to two decimal places.
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