question 133
Multiple Choice
Comparative financial statements for Cross, Inc.are shown below: Assets Current assets: Cash Accounts receivable Inventory Prepaid expenses Total current assets Property, plant and equipment, net Total assets Liabilities and Stockholders’ Equity Current liabilities: Accounts payable Other current liabilities Total current liabilities Long-term debt Total liabilities Stockholders’ equity: Common stock Retained earnings Retained earnings Total stockholders’ equity Total liabilities and stockholders’ equity Net sales Cost of goods sold Gross margin Operating expense Operating income Interest expense Earnings before tax Income taxes Net income December 312018$89,103142,00096,70821,203349,014822,576$1.171.590$85,44338,112123,555302,430425,985600,000145,60514,700745,605$1,171,590 Year Ended December 312018$17,005,85212,250,2574,755,5953,585,6571,169,93828,5001,141,438342,431$799,0072017$68,203135,00085,6945,118294,015718,144$1012,159$62,39433,50795,901290,324386,225600,00025,9348,000625,934$1,012,1592017$13,809,5859,825,6143,983,9713,400,258583,71327,300556,413166,924$389,489 How much is return on total assets for Cross, Inc.for 2017?
Definitions:
Coefficient Of Determination
A measure that represents the proportion of the variance in the dependent variable that is predictable from the independent variable(s).
Test Statistic
A value calculated from sample data during hypothesis testing, used to determine whether to reject the null hypothesis.
Coefficient Of Determination
A statistical measure represented by \(R^2\), indicating the proportion of the variance in the dependent variable that is predictable from the independent variable(s).
Explanatory Variable
A variable in a statistical model that is believed to influence or cause changes in a dependent variable.