A company reports the following: Net sales $1,730,000 Average total assets $1,050,000 Determine the ratio of net sales to assets.
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- Provide answer the accounting questionGiven the following information: Net income $965 Sales $22,653 Total Assets (average) $21,188 Asset turnover? Return on assets?A company reports the following:Sales $1,800,000Average total assets 1,125,000Determine the asset turnover ratio. Round to one decimal place.
- Assume the following sales data for a company: Line Item Description Amount Current year $883,993 Preceding year 542,076 What is the percentage increase in sales from the preceding year to the current year? a. 63.08% b. 61.32% c. 163.08% d. 38.68%A company reports the following: Sales $10,975,200Average total assets $1,371,900 Determine the asset turnover ratio. Round your answer to one decimal place.Edison Company reported the following for the current year: $ 84,000 59,000 21,080 63,000 77,080 Net sales Cost of goods sold Net income Beginning balance of total assets Ending balance of total assets Compute (a) profit margin and (b) return on total assets. Complete this question by entering your answers in the tabs below. Profit Margin Ratio Compute the return on total assets. Return On Total Assets Numerator: 7 7 7 Return On Total Assets Denominator: = Return On Total Assets Return on total assets II =
- Assume the following sales data for a company: Line Item Description Amount Current year $891,303 Preceding year 515,759 What is the percentage increase in sales from the preceding year to the current year?Comparative income statements and balance sheets for F&N are shown below ($ millions): Year 2 Year 1 Income Statement $19,889 6,204 Net sales. $20,092 6,044 Cost of goods Gross profit. Selling, general, and administrative expense Depreciation and amortization expense Interest expense (revenue) 14,048 7,893 803 (308) 13,685 9,221 773 292 3,399 1,222 Income before tax 5,660 1,691 Income tax expense. Net income $ 3,969 $ 2,177 Outstanding shares 3,491 3,481Calculating the Average Total Assets and the Return on Assets The income statement, statement of retained earnings, and balance sheet for Santiago Systems are as follows: Santiago Systems Income Statement For the Year Ended December 31, 20X2 Amount Percent Net sales $5,345,000 100.0% Less: Cost of goods sold (3,474,250) 65.0 Gross margin $1,870,750 35.0 Less: Operating expenses (1,140,300) 21.3 Operating income $730,450 13.7 Less: Interest expense (27,000) 0.5 Income before taxes Less: Income taxes (40%)* $703,450 13.2 (281,380) 5.3 Net income $422,070 7.9 * Includes both state and federal taxes.
- Assume the following sales data for a company: Current year $770,668 Preceding year 635,551 What is the percentage increase in sales from the preceding year to the current year? a.121.26% b.17.53% c.82.47% d.21.26%Income statement information for Einsworth Corporation follows: Sales $1,200,000 Cost of goods sold 780,000 Gross profit 420,000Prepare a vertical analysis of the income statement for Einsworth Corporation.Income statement information for Einsworth Corporation follows: Sales $537,000 Cost of goods sold 177,210 Gross profit 359,790 Prepare a vertical analysis of the income statement for Einsworth Corporation. If required, round percentage answers to the nearest whole number.
