Return on total assets. (Round your percentage answer to 1 decimal place (i.e.,

Question

Return on total assets. (Round your percentage answer to 1 decimal place (i.e., 0.1234 should be entered as 12.3).)

Return on equity. (Round your percentage answer to 2 decimal places (i.e., 0.1234 should be entered as 12.34).)

Weller Corporation
Comparative Balance Sheet
(dollars in thousands) This Year Last Year   Assets   Current assets:      Cash $ 1,280 $ 1,560      Accounts receivable, net 12,300 9,100      Inventory 9,700 8,200      Prepaid expenses 1,800 2,100   Total current assets 25,080 20,960   Property and equipment:      Land 6,000 6,000      Buildings and equipment, net 19,200 19,000   Total property and equipment 25,200 25,000   Total assets $ 50,280 $ 45,960   Liabilities and Stockholders' Equity   Current liabilities:      Accounts payable $ 9,500 $ 8,300      Accrued liabilities 600 700      Notes payable, short term 300 300   Total current liabilities 10,400 9,300   Long-term liabilities:      Bonds payable 5,000 5,000   Total liabilities 15,400 14,300   Stockholders' equity:      Common stock 800 800      Additional paid-in capital 4,200 4,200        Total paid-in capital 5,000 5,000        Retained earnings 29,880 26,660   Total stockholders' equity 34,880 31,660   Total liabilities and stockholders' equity $ 50,280 $ 45,960

Explanation / Answer

Comparitive Balance Sheet Assets Current Year Last Year Liabilities Current Year Last Year Current Assets : Current Liabilities : Cash               1,280              1,560 Accounts Payable              9,500          8,300 Accounts Receivable             12,300              9,100 Accrued Liabilites                 600             700 Inventory               9,700              8,200 Notes Payable                 300             300 Preapid Expenses               1,800              2,100 Sub Total            25,080           20,960 Sub Total            10,400          9,300 Non Current Assets: Non Current Laibilities: Land               6,000              6,000 Longterm Bonds              5,000          5,000 Building             19,200            19,000 Common Stock                 800             800 Sub Total            25,200           25,000 Additional Capital              4,200          4,200 Retained Earnings            29,880        26,660 Sub Total            39,880        36,660 Total             50,280            45,960            50,280        45,960 Comparitive Income Statement Particualrs   Current Year Last Year Sales             79,000            74,000 Less: Cost of Goods Sold             52,000            48,000 Gross Margin             27,000            26,000 Less: Selling & Admin Exp Selling Expenses               8,500              8,000 Admin Expenses             12,000            11,000 Net Operating Income               6,500              7,000 Less: Interest Expenses                  600                 600 Profit Before Taxes               5,900              6,400 Less: Tax               2,360              2,560 Profit After Taxes               3,540              3,840 Less: Dividend                  320                 600 Net Income for Reatined Earnigs               3,220              3,240

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