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The Amos Corporation reported the following income statement and balance sheet amounts and additional information for the end of the current year. End of current
The Amos Corporation reported the following income statement and balance sheet amounts and additional information for the end of the current year. End of current year End of prior year $1,220,000 S725,000 $495,000 $282,500 $42,000 S170,500 Net sales revenue (all credit) Cost of goods sold Gross profit Sellinggeneral expenses Interest expense Net Income Current assets Long-term assets Total assets $82,000 $440,000 S522,000 S113,000 $512,000 S625,000 3625,UUU $57,000 $275,000 S293,000 S625,000 lotai assets Current liabilities Long-term liabilities Common stockholders' equity Total liabilities and stockholders' equity 3522,0UU $52,000 S245,000 S225,000 $522,000 Inventory and prepaid expenses account for $30,000 of the current years current assets. Average inventory for the current year is $36,250 Average net accounts receivable for the current year is $45,000 There are 35,000 shares of common stock outstanding Total dividends paid during the current year were $17,000 The market price per share of common stock is $20. What is the rate of return on total assets for the current year? A. 37.05% B. 20.73% C. 59.43% D. 22.07%
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