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Pioneer Industries Gathered

question 31

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Pioneer Industries gathered the following year-end data (in thousands) for 2010 and 2009:
 Curent Assets 201020092345$365 Long-Tenn Arsets 790720 Curtert Liabilities 280310 Long-Term Liabilities 410440 Owners’ Equity 445335 Net Sales 830790 Gross Margir 375355 Net Income 120105\begin{array} { l r r } \text { Curent Assets } & \frac { 2010 } { 2009 } & \frac { 2345 } { \$ 365 } \\\text { Long-Tenn Arsets } & 790 & 720 \\\text { Curtert Liabilities } & 280 & 310 \\\text { Long-Term Liabilities } & 410 & 440 \\\text { Owners' Equity } & 445 & 335 \\\text { Net Sales } & 830 & 790 \\\text { Gross Margir } & 375 & 355 \\\text { Net Income } & 120 & 105\end{array}
-The return on assets for 2010 was:

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Definitions:

IFRS Guidelines

The set of international accounting standards and principles that guide how financial statements should be prepared and disclosed.

Impairment Loss

A reduction in the recoverable amount of a fixed asset or goodwill below its carrying amount recorded on the balance sheet.

Input Market

The marketplace where resources or raw materials that a company uses to produce its products are bought and sold.

Long-lived Assets

Assets that are expected to provide economic benefits over a period of time longer than one fiscal year.

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