Enghouse Systems Limited provides enterprise software solutions to its customers. The company reported the following selected financial information (in millions): sales of $467 in 2021, $504 in 2020, and $386 in 2019. The company also reported net income of $93 in 2021, $99 in 2020, and $71 in 2019. Assets at the end of 2021 were $675; at the end of 2020, $764; and at the end of 2019, $591. (a) Calculate Enghouse's (1) asset turnover, (2) profit margin, and (3) return on assets for 2021 and 2020. (Round answers to 1 decimal place, e.g. 15.2.)

Enghouse Systems Limited provides enterprise software solutions to its customers. The company reported the following selected financial information (in millions): sales of $467 in 2021, $504 in 2020, and $386 in 2019. The company also reported net income of $93 in 2021, $99 in 2020, and $71 in 2019. Assets at the end of 2021 were $675; at the end of 2020, $764; and at the end of 2019, $591. (a) Calculate Enghouse's (1) asset turnover, (2) profit margin, and (3) return on assets for 2021 and 2020. (Round answers to 1 decimal place, e.g. 15.2.)

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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