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Use the following balance sheet and income statement information to answer Questions 16 through 20 on Orca Industries. Below are the two most recent balance

Use the following balance sheet and income statement information to answer Questions 16 through 20 on Orca Industries.

Below are the two most recent balance sheets and most recent income statement for Orca Industries. The company has an effective tax rate of 35%.

Balance Sheet

(As of December 31)

2019

2018

Assets:

Cash

$10,000

$ 6,000

Accounts Receivable (net)

6,000

1,500

Inventory

8,000

10,000

Long-lived assets

12,000

11,000

Less: Accumulated depreciation

(4,000)

(2,000)

Total assets

$32,000

$26,500

Liabilities and Stockholders Equity:

Accounts payable

$ 5,000

$ 6,000

Deferred revenues

1,000

2,000

Long-term note payable

10,000

10,000

Less: Discount on note payable

(800)

(1,000)

Common stock

12,000

6,000

Retained earnings

4,800

3,500

Total liabilities and stockholders equity

$32,000

$26,500

Income Statement

(For the year ended December 31, 2019)

Revenues

$42,000

Cost of goods sold

(24,000)

Depreciation expense

(2,000)

Interest expense

(3,000)

Bad debt expense

(2,000)

Other expense (including income taxes)

(9,000)

Net income

$ 2,000

Refer to the information for Orca Industries. What was the return on assets (ROA) for Orca Industries in 2019?

Refer to the information for Orca Industries in Question 16. What was the profit margin for ROA for Orca Industries in 2019

Refer to the information for Orca Industries in Question 16. What was Orca Industries total assets turnover in 2019?

Refer to the information for Orca Industries in Question 16. What was Orca Industries accounts payable turnover?

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