Herring Corporation has operating income of $270,000 and a 40% tax rate. The firm has short-term debt of $119,000, long-term debt of $316,000, and common equity of $435,000. What is its return on invested capital?
A. 17.37%
B. 17.95%
C. 18.62%
D. 19.87%
E. 20.72%
Answer: C
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How does the Society of Corporate Compliance and Ethics (SCCE) differ from the Ethics & Compliance Initiative (ECI)?
a. It is a nonprofit with a much larger membership. b. It does not offer professional certification of ECOs. c. It is made up of regular corporate managers, not ECOs. d. It represents a wide spectrum of industry types.
Which of the following must be recorded in order to be valid between the debtor and creditor?
A) Mortgage B) Deed of trust C) Both a deed of trust and a mortgage D) Neither a deed of trust nor a mortgage
According to the January effect, stock prices
A) experience an abnormal price rise from December to January. B) experience an abnormal price decline from December to January. C) follow a random walk during January. D) set the pattern for the entire year in January.
Golden Path, a labor union, had the following receipts and expenses for the year ended December 31, 20X8: Receipts: Per capita dues$900,000 Initiation fees 120,000 Sales of organizational supplies 80,000 Nonexpendable gift restricted by donor for loan purposes for 10 years 50,000 Nonexpendable gift restricted by donor for loan purposes in perpetuity 60,000 Expenses: Labor negotiations 720,000 Fund-raising 150,000 Membership development 40,000 Administrative and general 250,000 The union's constitution provides that 12 percent of the per capita dues be designated for the strike insurance fund to be distributed for strike relief at the discretion of the union's executive board.Based on the information provided, in Golden Path's statement of activities for the
year ended December 31, 20X8, what amount should be reported under the classification of program services? A. $910,000 B. $440,000 C. $760,000 D. $720,000