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The following information pertains to Lock Company Assume that all balance sheet amounts represent both average and ending balance figures. Assume that all sales were
The following information pertains to Lock Company Assume that all balance sheet amounts represent both average and ending balance figures. Assume that all sales were on credit. Assets $45.000 Cash and short-term investments 30.000 Accounts receivable (net) 40,000 Inventory 310000 Property, plant and equipment $425.000 Total Assets Liabilities and Stockholders' Equity $55.000 Current liabilities 110.000 Long-term liabilities 260.000 Stockholders' equity-common 5425.000 Total Liabilities and Stockholders' Equity Liabilities and Stockholders' $55.000 Current liabilities 110.000 Long-term liabilities 260.000 Stockholders' equity-common $425.000 Total Liabilities and Stockholders' Equity Income Statement $120.000 Sales 65.000 Cost of goods sold 55.000 Gross proht Operating expenses 525.500 Net income 2.000 Number of shares of common stock $20 Market price of common stock MacBook Pro Gross proht 55.000 Operating expenses 29.500 Net income 525 500 Number of shares of common stock Market price of common stock Dividends per share What is the return on assets for Lock? 50% 60% 1203 100%
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