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Danner Corporation and London Corporation, two companies of roughly the same size, are both involved in the manufacture of shoe- tracing devices Each company depreciates its plant assets using the straight-line approach. An investigation of their financial statements reveals the information shown below. Net income Sales revenue Total assets (average) Plant assets (average) Danner Corp. London Corp. $255,900 $331,700 1,755,800 1,822,200 3,457,400 3,227,400 2,601,600 1,896,500 0 Intangible assets (goodwill) 467,500 (a) For each company, calculate these values Danner Corp. London Corp. Return on assets. % % Profit margin. % % Asset turnover. times times

Danner Corporation and London Corporation, two companies of roughly the same size, are both involved in the manufacture of shoe- tracing devices Each company depreciates its plant assets using the straight-line approach. An investigation of their financial statements reveals the information shown below. Net income Sales revenue Total assets (average) Plant assets (average) Danner Corp. London Corp. $255,900 $331,700 1,755,800 1,822,200 3,457,400 3,227,400 2,601,600 1,896,500 0 Intangible assets (goodwill) 467,500 (a) For each company, calculate these values Danner Corp. London Corp. Return on assets. % % Profit margin. % % Asset turnover. times times

FINANCIAL ACCOUNTING
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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Danner Corporation and London Corporation, two companies of roughly the same size, are both involved in the manufacture of shoe- tracing devices Each company depreciates its plant assets using the straight-line approach. An investigation of their financial statements reveals the information shown below. Net income Sales revenue Total assets (average) Plant assets (average) Danner Corp. London Corp. $255,900 $331,700 1,755,800 1,822,200 3,457,400 3,227,400 2,601,600 1,896,500 0 Intangible assets (goodwill) 467,500 (a) For each company, calculate these values Danner Corp. London Corp. Return on assets. % % Profit margin. % % Asset turnover. times times
Transcribed Image Text:Danner Corporation and London Corporation, two companies of roughly the same size, are both involved in the manufacture of shoe- tracing devices Each company depreciates its plant assets using the straight-line approach. An investigation of their financial statements reveals the information shown below. Net income Sales revenue Total assets (average) Plant assets (average) Danner Corp. London Corp. $255,900 $331,700 1,755,800 1,822,200 3,457,400 3,227,400 2,601,600 1,896,500 0 Intangible assets (goodwill) 467,500 (a) For each company, calculate these values Danner Corp. London Corp. Return on assets. % % Profit margin. % % Asset turnover. times times
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