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The following information pertains to Diane Company. Assume that all balance sheet amounts represent both average and ending balance figures. Assume that all sales were
The following information pertains to Diane Company. Assume that all balance sheet amounts represent both average and ending balance figures. Assume that all sales were on credit. Use this information to answer th question that follow. Assets $41,109 Cash and short-term investments Accounts receivable (net) 25,069 Inventory 31,569 284,845 Property, plant, and equipment $382,592 Total assets Liabilites and Stockholders Equity Current liabilities $61,100 Long-term liabilitles 94,895 226,597 $382,592 Total liabilities and stockholders' equity Income Statement Net Sales $84,645 Cost of goods sold (33,858) Gross margin 50,787 Operating expenses (22,997) 4,232) Interest expense $23,558 Net income Number of shares of common stock outstanding 6,333 Market price of common stock $25 $10,000 Total dividends paid Cash provided by operations $41,109 Using the data provided for Diane Company, what is the return on total assets
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