The return on total assets is marked wrong

Comparative financial statements for Weller Corporation, a merchandising company, for the year ending December 31 appear below. The company did not issue any new common stock during the year . A total of 800,000 shares of common stock were outstanding. The Interest rate on the bond payable was 12%, the income tax rate was 40% and the dividend per share of common stock was $0.75 last year and $0.40 this year. The market value of the company's common stock at the end of this year was $18. All of the company's sales are on account This Yeae Last Yoat $1.2010 12.300 9.700 1.800 25.000 $1.560 3.100 1.200 2.100 20x960 6.000 10.200 25, 200 $50,280 5.000 19.000 25,000 $45.960 eller Corporation Comparative Balance sheet dollar in thousanda) Missat Current Cash Accounts receivable, bet Taventory Prepaid expenses Total current sta Property and equipment Land buildings and equipment, net Total property and equipment Total ante Liabilities and stockholders' Equity Current abilities Accounts payable Accrued abilities Notes payable, short term Total current abilities Long-tern abilities Bonde payable Total Liabilities stockholders' equity! Common stock Additional paid in capital Total paid in capital Metained earnings Total stockholdera equity Total liabilities and stockholders uity $ 9,500 600 300 10,400 5,300 700 300 9.00 5000 15400 3.000 14.300 800 5200 3,000 29.10 36.000 550,200 300 4200 5.000 31.6GO 345.960 Common stock Additional paid-in capital Total paid-in capital Retained earnings Total stockholders' equity Total liabilities and stockholders equity 800 4.200 5.000 29.880 34,880 $50, 280 800 4200 5.000 26.660 31,660 $45,960 Weller Corporation Comparative Income Statement and Reconciliation dollars in thousands) This Year Last Year Sales $79.000 $74,000 cost of goods sold 52.000 48.000 Grons margin 22.000 26,000 Selling and administrative expenses Selling expenses 8.500 8,000 Administrative expenses 12.000 11.000 Total selling and administrative expenses 20,500 19.000 Net operating income 6,500 7.000 Interest expense 600 600 Net income before taxes 5,900 6,400 Income taxes 2,360 2,560 Net Income 3,540 3,840 Dividends to common stockholders 320 600 Net Income added to retained earnings 3,220 3,240 Beginning retained earnings 26, 660 23,420 $29.880 $26,660 Ending retained earningu Required: Compute the following financial data for this year 1. Gross margin percentage. (Round your percentage answer to 1 decimal place (.e., 0.1234 should be entered as 12,3).) 2. Net profit margin percentage. (Round your percentage answer to 1 decimal place ... 0.1234 should be entered as 12.3).) 3. Retum on total assets. (Round your percentage answer to 1 decimal place (.e., 01234 should be entered as 12.3).) 4. Return on equity (Round your percentage answer to 2 decimal places (le, 0.1234 should be entered as 12.34).) Required: Compute the following financial data for this year 1. Gross margin percentage (Round your percentage answer to 1 decimal place (.e., 0.1234 should be entered as 12,3).) 2. Net profit margin percentage. (Round your percentage answer to 1 decimal place de, 01234 should be entered as 12.3).) 3. Return on total assets. (Round your percentage answer to 1 decimal place (le, 0.1234 should be entered as 12,3).) 4. Return on equity. (Round your percentage answer to 2 decimal places (ie. 0.1234 should be entered as 12,34).) 1. Gross margin percentage 2 Net profit margin percentage 3. Return on total assets 4. Return on equity 4.41% 10.64% Comparative financial statements for Weller Corporation, a merchandising company, for the year ending December 31 appear below. The company did not issue any new common stock during the year . A total of 800,000 shares of common stock were outstanding. The Interest rate on the bond payable was 12%, the income tax rate was 40% and the dividend per share of common stock was $0.75 last year and $0.40 this year. The market value of the company's common stock at the end of this year was $18. All of the company's sales are on account This Yeae Last Yoat $1.2010 12.300 9.700 1.800 25.000 $1.560 3.100 1.200 2.100 20x960 6.000 10.200 25, 200 $50,280 5.000 19.000 25,000 $45.960 eller Corporation Comparative Balance sheet dollar in thousanda) Missat Current Cash Accounts receivable, bet Taventory Prepaid expenses Total current sta Property and equipment Land buildings and equipment, net Total property and equipment Total ante Liabilities and stockholders' Equity Current abilities Accounts payable Accrued abilities Notes payable, short term Total current abilities Long-tern abilities Bonde payable Total Liabilities stockholders' equity! Common stock Additional paid in capital Total paid in capital Metained earnings Total stockholdera equity Total liabilities and stockholders uity $ 9,500 600 300 10,400 5,300 700 300 9.00 5000 15400 3.000 14.300 800 5200 3,000 29.10 36.000 550,200 300 4200 5.000 31.6GO 345.960 Common stock Additional paid-in capital Total paid-in capital Retained earnings Total stockholders' equity Total liabilities and stockholders equity 800 4.200 5.000 29.880 34,880 $50, 280 800 4200 5.000 26.660 31,660 $45,960 Weller Corporation Comparative Income Statement and Reconciliation dollars in thousands) This Year Last Year Sales $79.000 $74,000 cost of goods sold 52.000 48.000 Grons margin 22.000 26,000 Selling and administrative expenses Selling expenses 8.500 8,000 Administrative expenses 12.000 11.000 Total selling and administrative expenses 20,500 19.000 Net operating income 6,500 7.000 Interest expense 600 600 Net income before taxes 5,900 6,400 Income taxes 2,360 2,560 Net Income 3,540 3,840 Dividends to common stockholders 320 600 Net Income added to retained earnings 3,220 3,240 Beginning retained earnings 26, 660 23,420 $29.880 $26,660 Ending retained earningu Required: Compute the following financial data for this year 1. Gross margin percentage. (Round your percentage answer to 1 decimal place (.e., 0.1234 should be entered as 12,3).) 2. Net profit margin percentage. (Round your percentage answer to 1 decimal place ... 0.1234 should be entered as 12.3).) 3. Retum on total assets. (Round your percentage answer to 1 decimal place (.e., 01234 should be entered as 12.3).) 4. Return on equity (Round your percentage answer to 2 decimal places (le, 0.1234 should be entered as 12.34).) Required: Compute the following financial data for this year 1. Gross margin percentage (Round your percentage answer to 1 decimal place (.e., 0.1234 should be entered as 12,3).) 2. Net profit margin percentage. (Round your percentage answer to 1 decimal place de, 01234 should be entered as 12.3).) 3. Return on total assets. (Round your percentage answer to 1 decimal place (le, 0.1234 should be entered as 12,3).) 4. Return on equity. (Round your percentage answer to 2 decimal places (ie. 0.1234 should be entered as 12,34).) 1. Gross margin percentage 2 Net profit margin percentage 3. Return on total assets 4. Return on equity 4.41% 10.64%