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The following information pertains to Blue Spruce Corp. Assume that all balance sheet amounts represent both average and ending balance figures. Assume that all sales

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The following information pertains to Blue Spruce Corp. Assume that all balance sheet amounts represent both average and ending balance figures. Assume that all sales were on credit. Assets $41000 Cash and short-term investments Accounts receivable (net) 37000 Inventory 36000 Property, plant and equipment 244000 Total Assets $358000 $68000 Liabilities and Stockholders' Equity Current liabilities Long-term liabilities Stockholders' equity-common Total Liabilities and Stockholders' Equity 84000 206000 $358000 $83000 Income Statement Sales revenue Cost of goods sold Gross profit 44000 39000 8570 Operating expenses Net income $30430 15000 $29 Number of shares of common stock Market price of common stock Dividends per share on common stock Cash provided by operations 1.7 $61934 Number of shares of common stock 15000 Market price of common stock $29 Dividends per share on common stock 1.7 Cash provided by operations $61934 What is the return on assets for this company? O 17.396 O 34.0% O 8.5% 19.0%

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