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Financial Statements for Orange Company Appear Below Total Dividends During Year 2 Were

question 193

Multiple Choice

Financial statements for Orange Company appear below:
$Financial statements for Orange Company appear below: \begin{array}{|l|r|} \hline&\text { Orange Company } \\ &\text { Income Statement } \\ &\text { For the Year Ended December 31, Year } \\ &2\\ &\text { (dollars in thousands) }\\ \hline \text { Sales (All on Account) } & \$ 2830 \\ \hline \text { Costs of Goods Sold } & \$ 1980 \\ \hline \text { Gross Margin } & \$ 850 \\ \hline \text { Operating Expenses } & \$ 340 \\ \hline \text { Net Operating Income } & \$ 510 \\ \hline \text { Interest Expense } & \$ 30 \\ \hline \text { Net Income before Taxes } & \$ 480 \\ \hline \text { Income Taxes (30\%) } & \$ 144 \\ \hline \text { Net Income } & \$ 336\\ \hline \end{array} Total dividends during Year 2 were \$ 156,000 , of which \$ 18,000 were preferred dividends. The market price of a share of common stock on December 31, Year 2 was \$ 100 . -Orange Company's return on total assets for Year 2 was closest to which of the following? A) 14.5%. B) 15.5%. C) 15.9%. D) 16.5%.$
$\begin{array}{|l|r|}\hline&\text { Orange Company } \\&\text { Income Statement } \\&\text { For the Year Ended December 31, Year } \\&2\\&\text { (dollars in thousands) }\\\hline \text { Sales (All on Account) } & \$ 2830 \\\hline \text { Costs of Goods Sold } & \$ 1980 \\\hline \text { Gross Margin } & \$ 850 \\\hline \text { Operating Expenses } & \$ 340 \\\hline \text { Net Operating Income } & \$ 510 \\\hline \text { Interest Expense } & \$ 30 \\\hline \text { Net Income before Taxes } & \$ 480 \\\hline \text { Income Taxes (30\%) } & \$ 144 \\\hline \text { Net Income } & \$ 336\\\hline\end{array}$

Total dividends during Year 2 were $\$ 156,000$ , of which $\$ 18,000$ were preferred dividends. The market price of a share of common stock on December 31, Year 2 was $\$ 100$ .
-Orange Company's return on total assets for Year 2 was closest to which of the following?

Recognize the role and structure of taste buds in gustation.

Explain the gate-control theory of pain and its implications.

Understand the biological basis of olfactory senses and the impact of odorant molecules.

Grasp the principles behind the perception of pain and methods to mitigate it, including placebo effects and acupuncture.

Definitions:

Sesquiterpene

A class of terpenes that consist of three isoprene units and have the molecular formula C15H24.

Steroid

A type of organic molecule with a characteristic molecular structure containing four rings of carbon atoms (three six-membered and one five-membered).

Terpenes

A large and diverse class of organic compounds, produced by a variety of plants, characterized by their strong smell and used in a wide range of applications, including perfumes and medicines.

C:H Ratio

The ratio of carbon atoms to hydrogen atoms in a molecular structure, often used to characterize organic molecules and hydrocarbons.