Question

In: Finance

Category Prior year Current year Accounts payable 41,400 45,000 Accounts receivable 115,200 122,400 Accruals 16,200 13,500...

Category

Prior year

Current year

Accounts payable

41,400

45,000

Accounts receivable

115,200

122,400

Accruals

16,200

13,500

Additional paid in capital

200,000

216,660

Cash

???

???

Common Stock @ par value

37,600

42,000

COGS

131,400

176,651.00

Depreciation expense

21,600

22,905.00

Interest expense

16,200

16,777.00

Inventories

111,600

115,200

Long-term debt

135,000

139,956.00

Net fixed assets

376,537.00

399,600

Notes payable

59,400

64,800

Operating expenses (excl. depr.)

50,400

61,114.00

Retained earnings

122,400

136,800

Sales

255,600

339,799.00

Taxes

9,900

18,518.00

What is the current year's return on assets (ROA)?

Submit

Answer format: Percentage Round to: 2 decimal places (Example: 9.24%, % sign required. Will accept decimal format rounded to 4 decimal places (ex: 0.0924))

Solutions

Expert Solution

Income Statement
Category Prior year Current year
Sales 255,600 339,799
COGS 131,400 176,651
Gross Profit 124,200 163,148
Operating expenses (excl. depr.) 50,400 61,114
Depreciation expense 21,600 22,905
Earnings before interest and taxes 52,200 79,129
Interest expense 16,200 16,777
Earnings before taxes 36,000 62,352
Taxes 9,900 18,518
Net income 26,100 43,834
Balance Sheet
Category Prior year Current year
Assets
Cash 8,663 21,516
Accounts receivable 115,200 122,400
Inventories 111,600 115,200
Current Assets 235,463 259,116
Net fixed assets 376,537 399,600
Total Assets 612,000 658,716
Liabilities and Shareholders' Equity
Accounts payable 41,400 45,000
Accruals 16,200 13,500
Notes payable 59,400 64,800
Current liabilities 117,000 123,300
Long-term debt 135,000 139,956
Total liabilities 252,000 263,256
Common Stock @ par value 37,600 42,000
Additional paid in capital 200,000 216,660
Retained earnings 122,400 136,800
Total shareholders' Equity 360,000 395,460
Total liabilities and Shareholders' Equity 612,000 658,716
Cash = Total liabilities and Shareholders' Equity - Net Fixed assets - Accounts receivable -Inventories
Return on Assets = Net income / Average total Assets
= $43,834/((612,000+658,716)/2)
= 0.0690 or 6.90%

jeff jeffy answered 1 year ago
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