Allied Construction and Axis Construction reported the following information in their annual financial statements ($ in millions): Allied Construction Sales Net income Total assets Axis Construction Sales Net income Total assets Req 1 2024 $57,000 3,300 30,000 Req 2 Return on assets Profit margin Asset turnover 2024 $89,000 Required: 1. Calculate Allied Construction's return on assets, profit margin, and asset turnover ratio for 2024. 2. Calculate Axis Construction's return on assets, profit margin, and asset turnover ratio for 2024. 3-a. Which company has the better profit margin? 3-b. Which company has the better asset turnover? 3,600 50,000 Complete this question by entering your answers in the tabs below. Req 3A % % times 2023 $50,000 3,200 22,000 2023 $74,000 4,800 60,000 Calculate Allied Construction's return on assets, profit margin, and asset turnover ratio for 2024. (Do not round your intermediate calculations. Round your percentage answers to 1 decimal place and "Asset turnover" to 2 decimal places.) Req 3B
Allied Construction and Axis Construction reported the following information in their annual financial statements ($ in millions): Allied Construction Sales Net income Total assets Axis Construction Sales Net income Total assets Req 1 2024 $57,000 3,300 30,000 Req 2 Return on assets Profit margin Asset turnover 2024 $89,000 Required: 1. Calculate Allied Construction's return on assets, profit margin, and asset turnover ratio for 2024. 2. Calculate Axis Construction's return on assets, profit margin, and asset turnover ratio for 2024. 3-a. Which company has the better profit margin? 3-b. Which company has the better asset turnover? 3,600 50,000 Complete this question by entering your answers in the tabs below. Req 3A % % times 2023 $50,000 3,200 22,000 2023 $74,000 4,800 60,000 Calculate Allied Construction's return on assets, profit margin, and asset turnover ratio for 2024. (Do not round your intermediate calculations. Round your percentage answers to 1 decimal place and "Asset turnover" to 2 decimal places.) Req 3B
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
Related questions
Question
![Allied Construction and Axis Construction reported the following information in their annual financial statements ($ in millions):
Allied Construction
Sales
Net income
Total assets
Axis Construction
Sales
Net income
Total assets
Req 1
2024
$57,000
3,300
30,000
Required:
1. Calculate Allied Construction's return on assets, profit margin, and asset turnover ratio for 2024.
2. Calculate Axis Construction's return on assets, profit margin, and asset turnover ratio for 2024.
3-a. Which company has the better profit margin?
3-b. Which company has the better asset turnover?
Req 2
Return on assets
Profit margin
Asset turnover
2024
$89,000
3,600
50,000
Complete this question by entering your answers in the tabs below.
2023
$50,000
3,200
22,000
Req 3A
%
%
times
2023
$74,000
4,800
60,000
Calculate Allied Construction's return on assets, profit margin, and asset turnover ratio for 2024. (Do not round your
intermediate calculations. Round your percentage answers to 1 decimal place and "Asset turnover" to 2 decimal places.)
Req 3B
<Reg 1
< Prev
Req 2 >
4 of 31 HH
HH
Next >
Help
Save & Ex](/v2/_next/image?url=https%3A%2F%2Fcontent.bartleby.com%2Fqna-images%2Fquestion%2Fdc7c5ec4-6458-48ac-b580-7110d1dd08da%2F52c7ad84-b464-4aa3-8d05-4b43504f89db%2Fylrfe1_processed.jpeg&w=3840&q=75)
Transcribed Image Text:Allied Construction and Axis Construction reported the following information in their annual financial statements ($ in millions):
Allied Construction
Sales
Net income
Total assets
Axis Construction
Sales
Net income
Total assets
Req 1
2024
$57,000
3,300
30,000
Required:
1. Calculate Allied Construction's return on assets, profit margin, and asset turnover ratio for 2024.
2. Calculate Axis Construction's return on assets, profit margin, and asset turnover ratio for 2024.
3-a. Which company has the better profit margin?
3-b. Which company has the better asset turnover?
Req 2
Return on assets
Profit margin
Asset turnover
2024
$89,000
3,600
50,000
Complete this question by entering your answers in the tabs below.
2023
$50,000
3,200
22,000
Req 3A
%
%
times
2023
$74,000
4,800
60,000
Calculate Allied Construction's return on assets, profit margin, and asset turnover ratio for 2024. (Do not round your
intermediate calculations. Round your percentage answers to 1 decimal place and "Asset turnover" to 2 decimal places.)
Req 3B
<Reg 1
< Prev
Req 2 >
4 of 31 HH
HH
Next >
Help
Save & Ex
Expert Solution
![](/static/compass_v2/shared-icons/check-mark.png)
This question has been solved!
Explore an expertly crafted, step-by-step solution for a thorough understanding of key concepts.
This is a popular solution!
Trending now
This is a popular solution!
Step by step
Solved in 2 steps
![Blurred answer](/static/compass_v2/solution-images/blurred-answer.jpg)
Knowledge Booster
Learn more about
Need a deep-dive on the concept behind this application? Look no further. Learn more about this topic, accounting and related others by exploring similar questions and additional content below.Recommended textbooks for you
![FINANCIAL ACCOUNTING](https://compass-isbn-assets.s3.amazonaws.com/isbn_cover_images/9781259964947/9781259964947_smallCoverImage.jpg)
![Accounting](https://www.bartleby.com/isbn_cover_images/9781337272094/9781337272094_smallCoverImage.gif)
Accounting
Accounting
ISBN:
9781337272094
Author:
WARREN, Carl S., Reeve, James M., Duchac, Jonathan E.
Publisher:
Cengage Learning,
![Accounting Information Systems](https://www.bartleby.com/isbn_cover_images/9781337619202/9781337619202_smallCoverImage.gif)
Accounting Information Systems
Accounting
ISBN:
9781337619202
Author:
Hall, James A.
Publisher:
Cengage Learning,
![FINANCIAL ACCOUNTING](https://compass-isbn-assets.s3.amazonaws.com/isbn_cover_images/9781259964947/9781259964947_smallCoverImage.jpg)
![Accounting](https://www.bartleby.com/isbn_cover_images/9781337272094/9781337272094_smallCoverImage.gif)
Accounting
Accounting
ISBN:
9781337272094
Author:
WARREN, Carl S., Reeve, James M., Duchac, Jonathan E.
Publisher:
Cengage Learning,
![Accounting Information Systems](https://www.bartleby.com/isbn_cover_images/9781337619202/9781337619202_smallCoverImage.gif)
Accounting Information Systems
Accounting
ISBN:
9781337619202
Author:
Hall, James A.
Publisher:
Cengage Learning,
![Horngren's Cost Accounting: A Managerial Emphasis…](https://www.bartleby.com/isbn_cover_images/9780134475585/9780134475585_smallCoverImage.gif)
Horngren's Cost Accounting: A Managerial Emphasis…
Accounting
ISBN:
9780134475585
Author:
Srikant M. Datar, Madhav V. Rajan
Publisher:
PEARSON
![Intermediate Accounting](https://www.bartleby.com/isbn_cover_images/9781259722660/9781259722660_smallCoverImage.gif)
Intermediate Accounting
Accounting
ISBN:
9781259722660
Author:
J. David Spiceland, Mark W. Nelson, Wayne M Thomas
Publisher:
McGraw-Hill Education
![Financial and Managerial Accounting](https://www.bartleby.com/isbn_cover_images/9781259726705/9781259726705_smallCoverImage.gif)
Financial and Managerial Accounting
Accounting
ISBN:
9781259726705
Author:
John J Wild, Ken W. Shaw, Barbara Chiappetta Fundamental Accounting Principles
Publisher:
McGraw-Hill Education