WILMINGTON CORPORATION Balance Sheet Dec 31, Year 7 Dec 31, Year 6 Current Assets Cash and cash equivalents $519,159 5274.579 Marketable securities 166 106 187,064 Accounts receivable (net) 232548 260,190 Inventories 382,044 352,022 Prepaid expenses 49,832 22.958 Other current assets 83,053 85.029 Total Current Assets 1,432,742 1.181,842 Property, plant and equipment 1,384 217 625,421 Long term investment 568.003 425.000 Total Assets 33.384 962 52.232,263 Current Liabilities Short-term borrowings $306,376 $170,419 Current portion of long-term debit 155.000 168,000 Accounts payable 228,700 257,631 Accrued abilities 246,292 150285 Income taxes payable 87.962 161020 Total Current Liabilities 1024,390 907355 Long term debt 500.000 300.000 Deferred income taxes 193515 236.164 Total Liabilities 1.717.845 1,443,519 Common stock $425.250 5125,000 Additional paid in capital 356,450 344,335 Retained earnings B85.417 319,409 Total Stockholders Equity 1.667.117 788.744 Tatal listing and Storhalders' Fact 4962 2.2.263 Madil.doc Rett LO Course SUURUUU cong cerm Deferred income taxes Total Liabilities Common stock Additional paid in capital Retained earnings Total Stockholders' Equity Total Labilities and Stockholders' Equity 193.515 1.717,845 $425.250 356.450 885.417 1.667,117 53.384962 58 236,164 1.443 519 $125.000 344 335 319,409 788,744 $2.232.263 Selected Income Statement Data for the year ending December 31, Year 7 Net sales Cost of goods sold Selling expenses Operating income Interest expense Earnings before income taxes Income tax expense Net income $4,885,340 (2.978,182) (884,685) 1,022,473 (55.240) 967,233 (401.225) $566008 Selected Statement of Cash Flow Data for the year ending December 31, Year 7 Cash flows from operations Capital expenditures $1,310,476 $745,862 Required What was Wilmington Corporation's return on net onerating net in Income tax expense Net Income (401225) $566,008 Selected Statement of Cash Flow Data for the year ending December 31, Year 7 Cash flows from operations Capital expenditures 51,310476 $745,862 Required What was Wilmington Corporation's return on net operating assets (RNOA) in Year 72 Assume a statutory tax rate of 37%. Select one: a. 64.996 b. 41.3% C. 48.996 d. 62.796 WILMINGTON CORPORATION Balance Sheet Dec 31, Year 7 Dec 31, Year 6 Current Assets Cash and cash equivalents $519,159 5274.579 Marketable securities 166 106 187,064 Accounts receivable (net) 232548 260,190 Inventories 382,044 352,022 Prepaid expenses 49,832 22.958 Other current assets 83,053 85.029 Total Current Assets 1,432,742 1.181,842 Property, plant and equipment 1,384 217 625,421 Long term investment 568.003 425.000 Total Assets 33.384 962 52.232,263 Current Liabilities Short-term borrowings $306,376 $170,419 Current portion of long-term debit 155.000 168,000 Accounts payable 228,700 257,631 Accrued abilities 246,292 150285 Income taxes payable 87.962 161020 Total Current Liabilities 1024,390 907355 Long term debt 500.000 300.000 Deferred income taxes 193515 236.164 Total Liabilities 1.717.845 1,443,519 Common stock $425.250 5125,000 Additional paid in capital 356,450 344,335 Retained earnings B85.417 319,409 Total Stockholders Equity 1.667.117 788.744 Tatal listing and Storhalders' Fact 4962 2.2.263 Madil.doc Rett LO Course SUURUUU cong cerm Deferred income taxes Total Liabilities Common stock Additional paid in capital Retained earnings Total Stockholders' Equity Total Labilities and Stockholders' Equity 193.515 1.717,845 $425.250 356.450 885.417 1.667,117 53.384962 58 236,164 1.443 519 $125.000 344 335 319,409 788,744 $2.232.263 Selected Income Statement Data for the year ending December 31, Year 7 Net sales Cost of goods sold Selling expenses Operating income Interest expense Earnings before income taxes Income tax expense Net income $4,885,340 (2.978,182) (884,685) 1,022,473 (55.240) 967,233 (401.225) $566008 Selected Statement of Cash Flow Data for the year ending December 31, Year 7 Cash flows from operations Capital expenditures $1,310,476 $745,862 Required What was Wilmington Corporation's return on net onerating net in Income tax expense Net Income (401225) $566,008 Selected Statement of Cash Flow Data for the year ending December 31, Year 7 Cash flows from operations Capital expenditures 51,310476 $745,862 Required What was Wilmington Corporation's return on net operating assets (RNOA) in Year 72 Assume a statutory tax rate of 37%. Select one: a. 64.996 b. 41.3% C. 48.996 d. 62.796