Matthias Medical Comparative Balance Sheet As of December 31 2016 2015 Assets Cu

Question

Matthias Medical Comparative Balance Sheet As of December 31 2016 2015 Assets Current assetS Cash Accounts receivable, net Inventory Other current assets $417,400 776,400 681,000 247,000 2,121,800 8,440,100 $11,224,270 $10,561,900 $382,600 1,065,370 717,000 381,300 2,546,270 8,678,000 Total current assets Property, plant, & equipment, net Total assets Liabilities and Stockholders' Equity Current liabilities Long-term debt $3,162,800$2,846,000 3,892,600 6,738,600 58,900 103,800 3,660,600 3,823,300 $11,224,270 $10,561,900 3,702,600 6,865,400 58,900 104,600 4,195,370 4,358,870 Total liabilities Preferred stock, $5 par value Common stock, $0.25 par value Retained earnings Total stockholders' equity Total liabilities and stockholders' equity

Explanation / Answer

Calculation of return on assets: Return on assets= Net operating income after tax/average total assets*100 Average total assets=(11224270+10561900)/2=$10893085 Return on assets=1725400(1-0.30)/10893085*100 Return on assets=1207780/10893085*100=11.1% Return on assets = 11.1%

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