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The total assets of the philbin company on january 1

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49.The total assets of the Philbin Company on January 1, 19x9 were$2.3 million and onDecember 31, 19x9 were $2.5 million. Net income for 19x9 was $188,000. Dividends for 19x9totaled $75,000, interest expenses totaled $70,000, and the tax ratewas 30%. The return on total assets for 19x9 was closest to:a. 9.5%.b. 6.8%.c. 9.9%.d. 10.8%.
50. Selected financial data for Irvington Company appear below:Account BalancesBeginning of yearEnd of yearPreferred stock.........$125,000$125,000Common stock.............300,000400,000Retained earnings.........75,000185,000During the year, the company paid dividends of $10,000 on its preferred stock. The company'snet income for the year was $120,000. The company's return on common stockholders' equityfor the year is closest to:
51.Questons 51, 52, and 53 are different versions of the same queston.Crasler Company's net income last year was $100,000. The company paid preferreddividends of $20,000 and its average common stockholders' equity was $580,000. Thecompany's return on common stockholders' equity for the year was closest to:
52. Questons 51, 52, and 53 are different versions of the same queston.Crawler Company's net income last year was $80,000. The company paid preferred dividends of$10,000 and its average common stockholders' equity was $400,000. The company's return oncommon stockholders' equity for the year was closest to:
Orange CompanyStatement of Financial PositonDecember 31, 20X6 and 20X5(dollars in thousands)20X620X5Current assets:Cash and marketable securites.............$ 130$ 110Accounts receivable, net...................180180Inventory..................................160160Prepaid expenses...........................6060Total current assets.....................530510Noncurrent assets:Plant & equipment, net.....................1,6801,620Total assets.................................$2,210$2,130Current liabilites:Accounts payable...........................$ 90$ 100Accrued liabilites........................6080Notes payable, short term..................160180Total current liabilites...............310360
Noncurrent liabilites:Bonds payable..............................250300Total liabilites........................560660Stockholders' equity:Preferred stock, $10 par, 15%...............120120Common stock, $5 par.......................220 220Additonal paid-in capital--common stock ...210 210Retained earnings..........................1,100 920Total stockholders' equity...............1,650 1,470Total liabilites & stockholders' equity.....$2,210$2,130=====================================================================Orange CompanyIncome StatementFor the Year Ended December 31, 20X6(dollars in thousands)Sales (all on account)...................$2,830Cost of goods sold.......................1,980Gross margin.............................850Operatng expenses.......................340Net operatng income.....................510Interest expense.........................30Net income before taxes..................480Income taxes (30%).......................144Net income...............................$ 336=====================================================================Dividends during 20X6 totaled $156 thousand, of which $18 thousand were preferreddividends.The market price of a share of common stock on December 31, 20X6 was $100.Based on the informaton of Orange Company, answer the queston below :

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Summer
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Balance Sheet, Generally Accepted Accounting Principles

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