The Following Information Pertains to Jasmin Corporation Jasmin Corporation Had 6,000 Shares of Common Stock Issued and Sheet

question 131

Multiple Choice

The following information pertains to Jasmin Corporation.Assume that all balance sheet amounts represent both average and ending figures.
$\begin{array}{c}\text {Jasmin Corporation }\\\text {Partial Balance Sheet}\\\text { December \( 31,20 x x \) }\\\begin{array}{|lr|}\hline\text { Liabilities and Stockholders' Equity }\\\text { Current liabilities } & \$ 60,000 \\\text { Long-term liabilities } & 90,000 \\\text { Stockholders' equity } & 150,000 \\ \text { Total liabilities and stockholders' equity } & \$ 300,000 \\\hline\end{array}\end{array}$
$\begin{array}{c}\text {Jasmin Corporation}\\\text { Income Statement }\\\text {For the Year Ended December 31, 20xx}\\\begin{array}{|lc|}\hline \text { Net sales } & \$ 80,000 \\ \text { Cost of goods sold } & 45,000 \\ \text { Gross margin } & \$ 35,000 \\ \text { Operating expenses } & 15,000 \\\text { Income before income taxes } & \$ 20,000 \\\text { Income taxes expense } & 5,000 \\ \text { Net income } & \$ 15,000 \\\hline\end{array}\end{array}$
Jasmin Corporation had 6,000 shares of common stock issued and outstanding.The market price of Jasmin common stock on December 31,20xx,was $20.Jasmin paid dividends of $0.90 per share during 20xx.
What is the return on assets for this corporation? Round your answer to one decimal place.

• A) 5.0 percent
• B) 10.0 percent
• C) 11.7 percent
• D) 26.7 percent

Appreciate the importance of creating an inclusive and supportive work environment for older workers.

Understand the importance of diversity management in creating equitable work opportunities.

Understand the components of wellness and identify behaviors that do not contribute to wellness.

Recognize the importance of regular physical activity and strategies for incorporating exercise into a busy schedule.

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Definitions:

Multi-National

Corporations or companies that operate in multiple countries outside of their headquarters or origin country.

Stockholders

Individuals or entities that own shares in a corporation, thus having an interest in its performance and profits.

Employee-Owned Corporations

Businesses where the majority of the stock is owned by the employees, often leading to high levels of staff engagement and motivation.