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Dhttps://edugen Home Read, Study & Practice d a search Gradebook ORION Downloadable eTextbook ?? Assianment > Open Assignment ASSIGNMENT RESOURCES | CALCULATOR | | PRINTER VERSION 4 BACK Exercise 12-10 Cullumber Medical manufactures hospital beds and other institutional furniture. The company's comparative b 12-2 alance sheet and incone statement for 2015 and 2016 follow Cullumber Medical Comparative Balance Sheet As of December 31 2016 2015 Assets Review Results by Current assets Cash Accounts receivable, net Inventory Other current assets $304,000 $417,400 1.067,500 776,450 729,000 681,100 247,100 2,461,500 2,122,050 8,708,77O 8,353,510 $11,170,270 $10,475,560 361,000 Total current assets Property, plant, & equipment, net Total assets Liabilities and Stockholders Equity Current liabilities Long-term debt $3,111,000 $2,846,050 3,702,700 3,892,650 6,813,700 6,738,700 55,900 103.A00 Total liabilities Preferred stock, $5 par value Common stock. $0.25 nar valie 5,900 110.000 41 PM ns All Rights Reserved, A Division of John Wilay& Sondl In O Type here to search

Explanation / Answer

Gross Margin % for 2016: Gross margin / Sales *100 4700,000/10040,000 *100 = 46.81% Return on Assets:   Net income after tax/ Average assets *100 Average Total assets: (11170,270+10475,560)/2= $10822,915 Return on assets: 1065960 /10822915 *100 = 9.85% Return on Common Stockholder's Equity: Net income available for Common / Average Stockholder' sequity *100 Average Stockholder equity: Beginning Common Stockholdder (103800+3577160) 3680960 Ending common Stockholder (110000+4190670) 4300670 Average Stockholder equity: 3990815 Net income available for common Stockholder: 1065960-29450 = $ 1036510 Return on Common Stockholder's : 1036510 /3990815 *100 =25.97%

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