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Markus Companys common stock sold for $3.00 per share at the end of this year....

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Accounting

Markus Companys common stock sold for $3.00 per share at the end of this year. The company paid a common stock dividend of $0.48 per share this year. It also provided the following data excerpts from this years financial statements:

Ending Balance Beginning Balance
Cash $ 31,000 $ 32,200
Accounts receivable $ 64,000 $ 53,700
Inventory $ 59,200 $ 64,000
Current assets $ 154,200 $ 149,900
Total assets $ 490,000 $ 506,000
Current liabilities $ 63,000 $ 49,500
Total liabilities $ 140,000 $ 126,000
Common stock, $1 par value $ 126,000 $ 126,000
Total stockholders equity $ 350,000 $ 380,000
Total liabilities and stockholders equity $ 490,000 $ 506,000

This Year
Sales (all on account) $ 750,000
Cost of goods sold $ 440,000
Gross margin $ 310,000
Net operating income $ 162,000
Interest expense $ 9,000
Net income $ 107,100

4. What is the return on total assets (assuming a 30% tax rate)? (Round percentage answer to 1 decimal place. i.e., 0.123 should be considered as 12.3%)

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