Need answer 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?

Let's break down each part of the question. Part (a): Sales Revenue We are given the total assets…

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

EBK CFIN

6th Edition

ISBN:9781337671743

Author:BESLEY

Publisher:BESLEY

Chapter2: Analysis Of Financial Statements

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Problem 8PROB

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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?