Carla Vista Mart and Sandhill Shop are two companies of roughly the same size both running a chain of convenience stores. Each company depreciates its plant assets using the straight-line method. An investigation of their financial statements reveals the following information: Net income Sales revenue Total assets (average) Plant assets (average) A. Return on assets Carla Vista Mart B. Asset turnover $124,992 854,400 4,166,400 1,584,000 Sandhill Shop Carla Vista Mart $126,490 1,056,000 For each company, calculate: (Round answers to 2 decimal places, e.g. 52.75.) 5,270,400 1,824,000 % Sandhill Shop %

Carla Vista Mart and Sandhill Shop are two companies of roughly the same size both running a chain of convenience stores. Each company depreciates its plant assets using the straight-line method. An investigation of their financial statements reveals the following information: Net income Sales revenue Total assets (average) Plant assets (average) A. Return on assets Carla Vista Mart B. Asset turnover $124,992 854,400 4,166,400 1,584,000 Sandhill Shop Carla Vista Mart $126,490 1,056,000 For each company, calculate: (Round answers to 2 decimal places, e.g. 52.75.) 5,270,400 1,824,000 % Sandhill Shop %

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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