Answered: 8. Sonit's total assets at the end of…

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8. Sonit's total assets at the end of last year were $830,000 and its net income was $65,500. What was its return on total assets? O a) 7.89% O b) 8.29% O c) 8.70% O d) 9.14% O e) None of the above

Essentials Of Investments

11th Edition

ISBN:9781260013924

Author:Bodie, Zvi, Kane, Alex, MARCUS, Alan J.

Publisher:Bodie, Zvi, Kane, Alex, MARCUS, Alan J.

Chapter1: Investments: Background And Issues

Section: Chapter Questions

Problem 1PS

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Sheridan Company reports the following information (in millions) during a recent year: net sales, $10,705.0; net earnings, $340.0; total assets, ending, $5,150.0; and total assets, beginning, $5,120.0. (a) Calculate the (1) return on assets, (2) asset turnover, and (3) profit margin. (Round answers to 1 decimal place, e.g. 6.2% and 6.2.) 1. Return on assets %2. Asset turnover times3. Profit margin %
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