question 126
Multiple Choice
The following information pertains to Ortiz Company. Assume that all balance sheet amounts represent both average and ending balance figures. Assume that all sales were on credit. Assets Cash and short-term investments Accounts receivable (net) Inventory Property, plant and equipment Total Assets Liabilities and Stockholders’ Equity Current liabilities Long-term liabilities Stockholders’ equity-common Total Liabilities and Stockholders’ Equity Income Statement Sales Cost of goods sold Gross profit Operating expenses Net income Number of shares of common stock Market price of common stock Dividends per share $45,00030,00040,000310,000$425,000$55,000110,000260,000$25,500$120,00065,00055,00029,000$25,5006,000$20.50 What is the return on assets for Ortiz?
Definitions:
Brown Decision
Refers to the landmark 1954 U.S. Supreme Court case Brown v. Board of Education, which declared state laws establishing separate public schools for black and white students to be unconstitutional.
Judicial Power
The authority granted to courts and judges to interpret and apply the law, adjudicate conflicts, and enforce rulings.
Consumer Capitalism
An economic system driven by consumer spending on goods and services, often characterized by the encouragement of goods consumption.
Middle Eastern Countries
Nations located in the Middle East, a region primarily in Western Asia and Northeast Africa, characterized by distinct cultural, religious, and geopolitical traits.