Gildan Activewear Inc. reported the following selected financial information (all in U.S. $ millions): sales of $2,909 in 2018, $2,751 in 2017, and $2,585 in 2016. The company also reported net income of $351 in 2018, $362 in 2017, and $347 in 2016. Assets at the end of 2018 were $3,005; at the end of 2017, $2,981; and at the end of 2016, $2,990. Calculate Gildan's (1) asset turnover, (2) profit margin, and (3) return on assets for 2018 and 2017. (Round answers to 1 decimal place, eg. 5.2.) ($ in U.S. millions) 2018 2017 times times (1) Asset turnover (2) Profit margin (3) Return on assets

Gildan Activewear Inc. reported the following selected financial information (all in U.S. $ millions): sales of $2,909 in 2018, $2,751 in 2017, and $2,585 in 2016. The company also reported net income of $351 in 2018, $362 in 2017, and $347 in 2016. Assets at the end of 2018 were $3,005; at the end of 2017, $2,981; and at the end of 2016, $2,990. Calculate Gildan's (1) asset turnover, (2) profit margin, and (3) return on assets for 2018 and 2017. (Round answers to 1 decimal place, eg. 5.2.) ($ in U.S. millions) 2018 2017 times times (1) Asset turnover (2) Profit margin (3) 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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