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| | 2010 | 2009 |
| Current Assets | $450 | $500 |
| Long-Term Assets | 810 | 620 |
| Current Liabilities | 310 | 420 |
| Long-Term Liabilities | 500 | 610 |
| Owners' Equity | 500 | 300 |
| Net Sales | 900 | 810 |
| Gross Margin | 410 | 400 |
| Net Income | 180 | 135 |
The current ratio at the end of 2010 was:
A) 1.76
B) 1.56
C) 1.45
D) 1.03
| | 2010 | 2009 |
| Current Assets | $450 | $500 |
| Long-Term Assets | 810 | 620 |
| Current Liabilities | 310 | 420 |
| Long-Term Liabilities | 500 | 610 |
| Owners' Equity | 500 | 300 |
| Net Sales | 900 | 810 |
| Gross Margin | 410 | 400 |
| Net Income | 180 | 135 |
The asset turnover ratio for 2010 was:
A) 45.8
B) 57.1
C) 63.3
D) 75.6
| | 2010 | 2009 |
| Current Assets | $450 | $500 |
| Long-Term Assets | 810 | 620 |
| Current Liabilities | 310 | 420 |
| Long-Term Liabilities | 500 | 610 |
| Owners' Equity | 500 | 300 |
| Net Sales | 900 | 810 |
| Gross Margin | 410 | 400 |
| Net Income | 180 | 135 |
The return on assets for 2010 was:
A) 10.5%
B) 11.6%
C) 13.8%
D) 15.1%
Answer & Explanation
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