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

Auditing: A Risk Based-Approach (MindTap Course List)

11th Edition

ISBN:9781337619455

Author:Karla M Johnstone, Audrey A. Gramling, Larry E. Rittenberg

Publisher:Karla M Johnstone, Audrey A. Gramling, Larry E. Rittenberg

Chapter12: Auditing Long-lived Assets And Merger And Acquisition Activity

Section: Chapter Questions

Problem 28RQSC

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Blue Corporation and Swifty 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) Intangible assets (goodwill) (a) Blue Corp. $245,420 1,753,000 3,506,000 2,880,000 432,100 Swifty Corp. $ 330,600 2,066,250 2,755,000 1,826,000 0 (1) Show Transcribed Text (2) Blue Corporation and Swifty 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) Intangible assets (goodwill) (a) (3) Return on assets Profit margin Asset…
Indigo Corporation and Blue 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. For each company, calculate these values: 1) Return on assets 2) Profit margin 3) Asset turnover
Sheffield Corporation and Flounder 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. Sheffield Flounder Corp. Corp. Net income $ 222,420 $ 235,320 Sales revenue 1,112,100 1,176,600 Total assets (average) 3,370,000 2,612,052 Plant assets (average) 242,000 1,844,000 Intangible assets (goodwill) 460,100 (a) For each company, calculate these values: (Round answers to 3 decimal places, e.g. 6.250% or 17.540.) Sheffield Corp. Flounder Corp. (1) Return on assets (2) Profit margin % (3) Asset turnover times times
Cullumber Mart and Ivanhoe 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 Cullumber Mart B. Asset turnover. $166,656 1,139,200 5,555,200 2,112,000 For each company, calculate: (Round answers to 2 decimal places, e.g. 52.75) Cullumber Mart Ivanhoe Shop $169,360 1,408,000 7,027,200 2,432,000 Ivanhoe 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 For each company, calculate: (Round answers to 2 decimal places, e.g. 52.75.) 1,056,000 5,270,400 1,824,000 % Sandhill Shop %
Sarasota Corporation and Marigold 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 following information. Net income Sales revenue Total assets (average) Plant assets (average) Intangible assets (goodwill) (a) (1) (2) (3) Return on assets Profit margin Asset turnover Sarasota Corp. $ 237,540 Save for Later 1,187,700 3,210,000 2,430,000 387,100 For each company, calculate these values: (Round answers to 2 decimal places, e.g. 6.25% or 17.54.) Marigold Corp. $316,050 Sarasota Corp. 1,264,200 3,010,000 1,828,000 do % do % 0 times Marigold Corp. % do % times Attempts: 0 of 3 used Submit Answer
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Crane Mart and Cullumber 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: CraneMart CullumberShop Net income $ 164,052 $ 166,020 Sales revenue 1,121,400 1,386,000 Total assets (average) 5,468,400 6,917,400 Plant assets (average) 2,079,000 2,394,000 For each company, calculate: (Round answers to 2 decimal places, e.g. 52.75.) CraneMart CullumberShop A. Return on assets B. Asset turnover
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