Selected Financial Data from Harlow Company for the Most Recent

question 47

Multiple Choice

Selected financial data from Harlow Company for the most recent year appear below: The income tax rate is 30 percent.
The return on sales ratio was closest to

• A)14%.
• B)40%.
• C)22%.
• D)10%.

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Definitions:

Stockholders' Equity

The equity stake that shareholders have in a company, representing their ownership interest, which is calculated as total assets minus total liabilities.

Common Shares

Common shares represent units of ownership in a company, giving shareholders voting rights and a portion of the profits through dividends, subject to corporate performance.

Accrued Interest Expense

Interest expense that has been incurred but not yet paid during an accounting period.

Installment Note

A debt instrument that requires a series of payments over time until the total debt is paid off.