None At the end of the year, Wrinkle Free Laundry (WFL)had $250,000 in total assets.a) If WFL's total assets turnover was 2.0, what wereits sales revenue?b) If WFL's return on assets was 6 percent, whatwere its net income and net profit margin?

Step 1: Define Asset Turnover RatioAsset turnover ratio is a financial metric that reveals how…

Answered: At the end of the year, Wrinkle Free…

EBK CFIN

6th Edition

ISBN:9781337671743

Author:BESLEY

Publisher:BESLEY

Chapter2: Analysis Of Financial Statements

Section: Chapter Questions

Problem 8PROB

See similar textbooks

Similar questions

Brandt Corporation had sales revenue of 500,000 for the current year. For the year, its cost of goods sold was 240,000, its operating expenses were 50,000, its interest revenue was 2,000, and its interest expense was 12,000. Brandts income tax rate is 30%. Prepare Brandts multiple-step income statement for the current year.
During the current year, Sokowski Manufacturing earned income of $350,000 from total sales of $5,500,000 and average capital assets of $12,000, 000. What is the sales margin?
During the current year. Plainfield Manufacturing earned income of $845,000 from total sales of $9,350,000 and average capital assets of $13,500,000. What is the sales margin?
At the end of the year, Wrinkle Free Laundry (WFL) had $150,000 in total assets. (a)If WFL’s total assets turnover was 2.0, what were its sales revenues? (b)If WFL’s return on assets was 6 percent, what were its net income and net profit margin?
Need answer
At the end of the year, Universal Utilities (UU) had $1.5 million in total assets. Its total assets turnover was 1.4, and its return on assets (ROA) was 7.14 percent. What were UU's sales revenues and net profit margin?
If you give me wrong answer, I will give you unhelpful rate
Lions Corp's sales last year were $27,000, and its total assets were $16,000. What was its total assets turnover ratio (TATO)?
Rappaport Corp.'s sales last year were $375,000, and its net income after taxes was $23,000. What was its profit margin on sales? Select the correct answer. a. 6.19 % b. 6.21 % c. 6.17 % d. 6.13 % e. 6.15 %
The balance sheet of ATLF, Inc. reports total assets of $950,000 and $1,050,000 at the beginning and end of the year, respectively. Net income and sales for the year are $100,000 and $800,000, respectively. What is ATLF's profit margin? Select one: a. 8% b. 15% c. 10% d. 80% e. 12.5%
Rappaport Corp.'s sales last year were $320,000, and its net income after taxes was $23,000. What was its profit margin on sales? A 6.49% B 6.83% C 7.19% D 7.55%
X-1 Corp's total assets at the end of last year were $440,000 and its EBIT was $55,000. What was its basic earning power (BEP) ratio?

SEE MORE QUESTIONS

Recommended textbooks for you

EBK CFIN

Finance

ISBN:

9781337671743

Author:

BESLEY

Publisher:

CENGAGE LEARNING - CONSIGNMENT

Intermediate Accounting: Reporting And Analysis

Accounting

ISBN:

9781337788281

Author:

James M. Wahlen, Jefferson P. Jones, Donald Pagach

Publisher:

Cengage Learning

Principles of Accounting Volume 2

Accounting

ISBN:

9781947172609

Author:

OpenStax

Publisher:

OpenStax College

EBK CFIN

Finance

ISBN:

9781337671743

Author:

BESLEY

Publisher:

CENGAGE LEARNING - CONSIGNMENT

Intermediate Accounting: Reporting And Analysis

Accounting

ISBN:

9781337788281

Author:

James M. Wahlen, Jefferson P. Jones, Donald Pagach

Publisher:

Cengage Learning

Principles of Accounting Volume 2

Accounting

ISBN:

9781947172609

Author:

OpenStax

Publisher:

OpenStax College

SEE MORE TEXTBOOKS

At the end of the year, Wrinkle Free Laundry (WFL) had $250,000 in total assets. a) If WFL's total assets turnover was 2.0, what were its sales revenue? b) If WFL's return on assets was 6 percent, what were its net income and net profit margin?