Net Devices Inc $$\text { ASEETE (\$in thausands) }$$

question 25

Multiple Choice

Net Devices Inc.
The following balance sheets and income statements are for Net Devices Inc., a manufacturer of small electronic devices, including calculators, personal digital assistants and mp3 players.For purposes of these questions assume that the company has an effective tax rate of 35%.
BALANCE SHEETS
$$\text { ASEETE (\$in thausands) }$$
$\begin{array}{l}\begin{array}{lll}\text {Fiscal year end}\\\text {Cash}\\\text {Marketable securities}\\\text {Receivables}\\\text {Inventories}\\\text {Other current assets}\\\text {Total current assets}\\\\\text {Property, plant \& equipment}\\\\\text {Intangibles}\\\text {Deposits \& other assets}\\\text {Total assets}\\\end{array}\begin{array}{lll}2011 & 2010 &2009\\\$ 875,650 & \$ 571,250 &154,230\\6,560 & 0 &0\\771,580 & 775,250&902,000 \\1,320,150 & 1,254,600 &1,418,500 \\\underline{249,000} &\underline{ 231,200}&\underline{229,900 }\\3,222,940 & 2,832,300 &2,704,630\\\\1,118,750 & 1,100,300 & 1,122,400\\\\263,050 & 241,000&215,600 \\\underline{184,500} &\underline{ 168,250}&\underline{168,900}\\\underline{\$ 4789240}&\underline{\$ 4341850}& \underline{\$ 4211530}\end{array}\end{array}$

$\begin{array}{l}\begin{array}{lll}\text { LIABILITIES (\$ in thousands) }\\\\\text {Fiscal year end}\\\text {Accounts payable}\\\text {Current long term debt}\\\text {Accrued expenses}\\\text {Income taxes payable}\\\text {Other current liabilities}\\\text {Total current liabilities}\\\\\text {Long term debt}\\\text {Other long term liabilities}\\\text {Total liabilities}\\\\\text {Preferred stock}\\\text {Common stock net}\\\text {Additional Paid-in Capital}\\\text {Retained earnings}\\\text {Treasury stock}\\\text {Shareholders' equity}\\\\\text {Total Liab, \& Equity}\\\end{array}\begin{array}{lll}\\ \\2011 & 2010 &2009\\\$ 1,178,540 & \$ 1,061,100 & \$ 1,138,250 \\18,100 & 316,500 & 150,900 \\664,100 & 615,900 & 585,400 \\138,900 & 108,400 & 38,200 \\\underline{0 }& \underline{0 }&\underline{ 0} \\1,999,640 & 2,101,900 & 1,912,750 \\\\478,250 & 378,400 & 599,630 \\\underline{13,350} & \underline{0 }&\underline{0}\\2,491,240 & 2,480,300 & 2,512,380\\\\850,000 & 850,000 & 550,000 \\4,000 & 3,950 & 3,800 \\869,000 & 758,000 & 689,500 \\1,430,500 & 1,055,000 & 1,245,050 \\\underline{(855,500) }& \underline{(805,400) } & \underline{(789,200) }\\\underline{2,298,000} & \underline{1,861,550 }& \underline{1,699,150}\\\\\underline{\underline{\$ 4,789,240} }&\underline{\underline{\$ 4,341,850 }}& \$ \underline{\underline{4,211,530}}\\\end{array}\end{array}$
$\begin{array}{lcc}\text { INCOME STATEMENTS (f in thousands) }\\\\\text { Fiscal year end } & \mathbf{2 0 1 1} & \mathbf{2 0 1 0} \\\text { Net sales } & \$ 11,455,500 & \$ 11,082,100 \\\text { Cost of Goods Sold } & \underline{(8,026,450) }& \underline{(7,940,065) }\\\text { Gross profit }&3,429,050&3,142,035\\\\\text {Selling, general \& admin. Exp. }&\underline{(1,836,400) }&\underline{(1,789,200) }\\\text {Income before deprec. \& amort.}&1,592,650&1,352,835 \\\\\text {Depreciation \& amortization }&(785,250) & (757,250) \\\text {Interest expense}&\underline{(46,195) } & \underline{(43,340) }\\\\\text { Income before tax } &761,205&552,245\\\text { Provision for income taxes } &(157,725) &(112,290) \\\text { Minority interest }&--&--\\\\\text { Net income }&\underline{\underline{\$ 603.480}}&\underline{\underline{\$ 439.955}} \\\\\text { Outstanding shares (in thousands) } & 308,515 & 303,095 \\\text { Preferred Dividends (in thousands) } & \$ 85,000 & \$ 85,000\end{array}$
-Refer to the information for Net Devices Inc.What is the rate of return on assets for Net Devices for 2011?

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Definitions:

Demographic Range

The distribution or spread of population characteristics such as age, income, or ethnicity within a specified geographic area.

Geographic Range

Geographic range refers to the spatial area over which a species is known to occur, encompassing its natural habitat and distribution limits.

Population

A group of individuals of the same species living in the same area at the same time, capable of interbreeding.

Horizontal Gene Transfer

The (nonsexual) lateral transfer of genetic material from one genome to another within a species or from one species to another species at any taxonomic level, including from a species in one domain to a species in another domain. Compare with vertical gene transfer.