The following information pertains to Diane Company. Assume that all balance sheet amounts represent both average and ending balance figures. Assume that all sales were on credit. Use this information to answer the question that follow. Assets Cash and short-term investments $40,936 Accounts receivable (net) 32,902 Inventory 36,625 Property, plant, and equipment 280,196 Total assets $390,659 Liabilities and Stockholders’ Equity Current liabilities $69,773 Long-term liabilities 90,745 Stockholders’ equity—Common 230,141 Total liabilities and stockholders’ equity $390,659 Income Statement Net Sales $98,683 Cost of goods sold (39,473) Gross margin 59,210 Operating expenses (29,056) Interest expense (4,934) Net income $25,220 Number of shares of common stock outstanding 5,105 Market price of common stock $32 Total dividends paid $9,000 Cash provided by operations $40,936 Using the data provided for Diane Company, what is the return on total assets?
The following information pertains to Diane Company. Assume that all balance sheet amounts represent both average and ending balance figures. Assume that all sales were on credit. Use this information to answer the question that follow.
Assets
Cash and short-term investments
$40,936
Accounts receivable (net)
32,902
Inventory
36,625
Property, plant, and equipment
280,196
Total assets
$390,659
Liabilities and Stockholders’ Equity
Current liabilities
$69,773
Long-term liabilities
90,745
Stockholders’ equity—Common
230,141
Total liabilities and stockholders’ equity
$390,659
Income Statement
Net Sales
$98,683
Cost of goods sold
(39,473)
Gross margin
59,210
Operating expenses
(29,056)
Interest expense
(4,934)
Net income
$25,220
Number of shares of common stock outstanding
5,105
Market price of common stock
$32
Total dividends paid
$9,000
Cash provided by operations
$40,936
Using the data provided for Diane Company, what is the return on total assets?
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