The following information pertains to ortiz company assume

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Reference no: EM13579169

The following information pertains to Ortiz Company. Assume that all balance sheet amounts represent both average and ending balance figures. Assume that all sales were on credit.

Assets
Cash and short-term investments		$ 45,000
Accounts receivable (net)		30,000
Inventory		40,000
Property, plant and equipment		310,000
	Total Assets	$425,000

Liabilities and Stockholders' Equity
Current liabilities		$ 55,000
Long-term liabilities		110,000
Stockholders' equity-common		260,000
	Total Liabilities and Stockholders' Equity	$425,000

Income Statement
Sales		$120,000
Cost of goods sold		65,000
Gross profit		55,000
Operating expenses		29,000
	Net income	$ 25,500

Number of shares of common stock		6,000
Market price of common stock		$20
Dividends per share		.50

What is the return on assets for Ortiz?

Reference no: EM13579169

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