Harrison Corporation has an equity multiplier of 2.75 times, total assets of $2,450,000, an ROE of 18.70 percent, and a total asset turnover ratio of 2.90 times. Calculate the firm's sales and ROA. (Round sales to the nearest whole dollar and ROA to 2 decimal places.)

Harrison Corporation has an equity multiplier of 2.75 times, total assets of $2,450,000, an ROE of 18.70 percent, and a total asset turnover ratio of 2.90 times. Calculate the firm's sales and ROA. (Round sales to the nearest whole dollar and ROA to 2 decimal places.)

Intermediate Financial Management (MindTap Course List)

13th Edition

ISBN:9781337395083

Author:Eugene F. Brigham, Phillip R. Daves

Publisher:Eugene F. Brigham, Phillip R. Daves

Chapter7: Analysis Of Financial Statements

Section: Chapter Questions

Problem 12P: The Kretovich Company had a quick ratio of 1.4, a current ratio of 3.0, a days’ sales outstanding of...

See similar textbooks

Related questions

Q: What was the firm's free cash flow on these financial accounting question?

A: Step 1: Define Free Cash FlowFree cash flow refers to the company income after deducting the capital…

Q: Provide correct answer general Accounting

A: Step 1: Define Profit MarginProfit margin is the percentage of the gain generated from the…

Q: Answer this Question

A: Concept of Perpetual InventoryPerpetual inventory refers to a system that tracks inventory levels in…

Q: Get correct solution for this general accounting question not use ai

A: Step 1: Define Gross ProfitGross profit is the difference between net sales revenue and the cost of…

Q: General accounting

A: Step 1: Information givenNet Income = $2,558.4 millionStockholders' equity for 2014 = $5,716…

Q: Harrison tools inc. Manufactures drills that sell for... Please answer the general accounting…

A: Step 1: Define Total Manufacturing CostThe total manufacturing cost per unit includes all costs…

Q: How much were Webster's product costs?(general account)

A: To calculate product costs, we include all costs directly related to manufacturing the product,…

Q: Hi expert please give me answer general accounting question

A: Step 1: Definition of Total Manufacturing CostsTotal Manufacturing Costs are the sum of direct…

Q: Variance

A: Step 1: Definition of Labor Rate VarianceLabor Rate Variance measures the difference between the…

Q: Kindly provide general account answer

A: To calculate the Retained Profit/Loss for the firm, we use the basic accounting equation:…

Q: The ending inventory for the year would be value?

A: Step 1: Define Full CostingFull costing, also known as absorption costing, is a method of costing…

Q: What is the belence under current liabilities in the 2024 balance sheet??

A: Step 1: Define Current LiabilityCurrent liabilities are the obligation a company has to repay in…

Q: Please answer the general accounting question

A: The net income for the year is computed by deducting expenses from revenue.Net income = Revenue -…

Q: General Account - Firm M has a margin of 9%, turnover of 1.6, sales of $800,000, and average…

A: Step 1: Understand the RelationshipThe turnover ratio measures how efficiently a firm uses its total…

Q: A forward contract's fair value at inception is typically: [A] Equal to the notional amount [B] Zero…

A: Explanation of all incorrect options:A. Equal to the notional amount:Notional amount is the amount…

Q: Kindly help me with accounting questions

A: Step 1: Definition of Total Cost of ProductionThe total cost of production includes all costs…

Q: Financial accounting question

A: Step 1: Define Total Overhead CostsTotal overhead costs include both fixed and variable components.…

Q: Kindly help me with this question general Accounting

A: Step 1: Calculation of total direct wagesDirect wages of Department A = $8,000Direct wages of…

Q: Give me answer general accounting question

A: Step 1: Information providedNet income = $4,800,000Number of shares outstanding = 3.2 million or…

Q: Do fast answer of this general accounting question

A: Step 1: Define Variable CostingAlthough Variable Costing is prohibited under both GAAP and IFRS, it…

Q: Please provide answer this accounting question

A: Step 1: Define Lower-of-Cost-or-Market RuleThe lower-of-cost-or-market (LCM) rule is an accounting…

Q: NO WRONG ANSWER

A: Explanation of Total Manufacturing Cost:Total manufacturing cost refers to the total cost incurred…

Q: Need help with this accounting questions

A: Explanation: We are provided with the following data:Income from continuing operations = $850,000;…

Q: Need help with this accounting questions

A: The Australian tax rates for the 2023-2024 financial year (excluding the Medicare Levy) are as…

Q: General accounting

A: Step 1: Define Contribution MarginThe contribution margin deducts variable expenses from the sales…

Q: provide general account solution. NO AI please..

A: Manufacturing cost has 3 components - direct material cost, direct labor cost and factory…

Q: Hi expert please give me answer general accounting question

A: Step 1: Definition of Degree of Operating LeverageThe Degree of Operating Leverage (DOL) measures…

Q: Hello, can you give correct answer

A: We have given data : Fixed budget = $70,000Overhead costs = $350,000Fixed overhead = $90,000Labor…

Q: I need this question answer general Accounting

A: Given:Fixed Overhead: $120,000 (unchanging regardless of production level)Variable Overhead:…

Q: The fixed factory overhead application rate is a function of a predetermined activity level. If…

A: The correct answer is:A) zero. Explanation:The volume variance measures the difference between the…

Q: The Maxit Corporation has a standard costing system in which variable manufacturing overhead is…

A: To solve for the standard number of machine hours allowed, we need to use the relationship between…

Q: ??

A: Explanation of Equity:Equity, also known as shareholders' equity or owner's equity, represents the…

Q: Total trad receivables?

A: Step 1: Define Account ReceivableAccount receivable can be classified as a current asset which…

Q: 5 Points

A: Concept of Bonds Issued at ParWhen bonds are issued at par, their issuance price is equal to their…

Q: Sub: Accounting

A: Concept of Compound Financial Instruments: A compound financial instrument is a hybrid financial…

Q: Get correct answer accounting questions

A: Stockholders' Equity FormulaStockholders' equity is calculated as:Total Stockholders' Equity =…

Q: Mcq financial accounting

A: Explanation of Revenue Accounts:Revenue accounts represent the income a company earns from selling…

Q: General Accounting question

A: Step 1: Define Capital GainCapital gain is an important concept in economics that refers to the…

Q: Given correct answer general Accounting question

A: Step 1: Define Account ReceivableAccount receivable can be defined as the money due to a seller from…

Q: Don't use ai given answer accounting questions

A: Step 1: Calculation of equity before payment of dividendEquity before payment of dividend = Assets -…

Q: Company Y currently has the following balances on its balance sheet: Assets Common Stock $198,162…

A: To determine total liabilities for Company Y next year, we will use the accounting equation:…

Q: Please provide this question solution general accounting

A: To address this situation, let's calculate the predetermined overhead rate (POR), analyze applied…

Q: AirMeals, Inc. prepares in-flight meals for a number of major airlines. One of the company's…

Q: Consider the following information. Determine the total amount of product costs. Factory utilities…

A: To calculate the total product costs, we need to include all costs related to manufacturing a…

Q: Financial Accounting: Corner Books has: Sales $764,200 Cost of goods sold $454,200 Profit margin 5.5…

A: Explanation of Price-Sales Ratio:The price-sales ratio is a financial metric that measures how much…

Q: General Accounting question

A: Step 1: Define Contribution MarginThe contribution margin is the surplus revenue over the variable…

Q: Please give me true answer this general accounting question

A: Explanation: Gain (or loss) on sale of equipment can be calculated by deducting the carrying amount…

Q: Hello tutor please provide this question solution general accounting

A: Step 1: Definition of Manufacturing CostsThe Total Manufacturing Cost includes the sum of direct…

Q: Blue ocean corp. Had total sales solve this accounting questions

A: To calculate the net income after tax, let's go step by step:Step 1: Calculate Gross ProfitGross…

Q: Financial accounting 1.2.24

A: Explanation of Total Labor Variance:Total labor variance measures the difference between the actual…

Question

Hi teacher please help me this question general accounting

Harrison Corporation has an equity multiplier of 2.75
times, total assets of $2,450,000, an ROE of 18.70
percent, and a total asset turnover ratio of 2.90 times.
Calculate the firm's sales and ROA. (Round sales to the
nearest whole dollar and ROA to 2 decimal places.)

Expert Solution

This question has been solved!

Explore an expertly crafted, step-by-step solution for a thorough understanding of key concepts.

SEE SOLUTION Check out a sample Q&A here

Step by step

Solved in 2 steps

SEE SOLUTION Check out a sample Q&A here

Similar questions

Grossman enterprises has an..accounting questions
I want to this question answer general Accounting
If Roten Rooters, Inc., has an equity multiplier of 1.28, total asset turnover of 1.85, current ratio of 2.28, and profit margin of 11.9 percent, then its ROE is _______%. Round it to two decimal places.
The lawrence company has a ratio of long term debt to long term debt plus equity of .25 and a current ratio of 1.5. current liabilities are 900, sales are 6230 , profit margin is 8.1 percent what is the amount of the firms net fixt assets ?
Abc
What are the annual sales for a firm with $805,853 in total liabilities, a total debt ratio of 0.84, and an asset turnover of 1.5? Numeric Response
Silas 4-Wheeler, Inc. has an ROE of 18.72 percent, equity multiplier of 2.00, and a profit margin of 18.00 percent. What is the total asset turnover and the capital intensity? (Round your answers to 2 decimal places.)
The Lawrence Company has a ratio of long term debt to long term debt plus equity of .39 and a current ratio of 1.7. Current liabilities are 950, sales are 6370, profit margin is 9.8 percent, and ROE is 20 percent. What is the amount of the firms net fixed assets?
Ladders, Inc. has a net profit margin of 5.4% on sales of $49.3 million. It has book value of equity of $41.7 million and total book liabilities of $29.2 million. What is Ladders' ROE? ROA? Note: Assume the value of Interest Expense is equal to zero. What is Ladders' ROE? Ladders' ROE is%. (Round to two decimal places.)
can you please solve this
What are the annual sales for a firm with $116,044 in total liabilities, a total debt ratio of 0.48, and an asset turnover of 4.75?
Need help