EYK9-11. Working with the Takeaways The following data (in millions) are taken from Alphabet'sALPHABET INc.(Google) 2017 financial statements:(in millions)20172016Net sales...Net income.$ 90,272$110,85512,66219,478Total assets197,295167,497Calculate Alphabet's 2017 asset turnover and return on assets.

Answered: Calculate Alphabet's 2017 asset…

Business

Accounting

Calculate Alphabet's 2017 asset turnover and return on assets.

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

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Question

EYK9-11. Working with the Takeaways The following data (in millions) are taken from Alphabet's
ALPHABET INc.
(Google) 2017 financial statements:
(in millions)
2017
2016
Net sales...
Net income.
$ 90,272
$110,855
12,662
19,478
Total assets
197,295
167,497
Calculate Alphabet's 2017 asset turnover and return on assets.

Expert Solution

meaning

Meaning of Asset Turnover

Asset turnover means the ratio of net sales divided by Average assets. It indicates how well the companies are effectively using their assets. These are used by investors to compare with similar other firms.

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