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In its 2023 annual report, Bonita Limited reports beginning-of-the-year total assets of $2,365 million, end-of-the-year total assets of $2,635 million, total revenue of $2,250 million, and net income of $126 million. HUNKY BALLERINES Calculate Bonita's asset turnover ratio. (Round answer to 2 decimal places, e.g. 52.75.)

In its 2023 annual report, Bonita Limited reports beginning-of-the-year total assets of $2,365 million, end-of-the-year total assets of $2,635 million, total revenue of $2,250 million, and net income of $126 million. HUNKY BALLERINES Calculate Bonita's asset turnover ratio. (Round answer to 2 decimal places, e.g. 52.75.)

FINANCIAL ACCOUNTING
FINANCIAL ACCOUNTING
10th Edition
ISBN:9781259964947
Author:Libby
Publisher:Libby
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
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In its 2023 annual report, Bonita Limited reports beginning-of-the-year total assets of $2,365 million, end-of-the-year total assets of $2,635 million, total revenue of $2,250 million, and net income of $126 million. Calculate Bonita's asset turnover ratio. (Round answer to 2 decimal places, e.g. 52.75.) Asset turnover ratio Calculate Bonita's profit margin. (Round answer to 2 decimal places, e.g. 52.75%.) Profit margin % (1) Using the asset turnover and profit margin times Calculate Bonita's rate of return on assets (1) using the asset turnover and profit margin, and (2) using net income. (Round answers to 2 decimal places, e.g. 52.75%.) Rate of return on assets %
Transcribed Image Text:In its 2023 annual report, Bonita Limited reports beginning-of-the-year total assets of $2,365 million, end-of-the-year total assets of $2,635 million, total revenue of $2,250 million, and net income of $126 million. Calculate Bonita's asset turnover ratio. (Round answer to 2 decimal places, e.g. 52.75.) Asset turnover ratio Calculate Bonita's profit margin. (Round answer to 2 decimal places, e.g. 52.75%.) Profit margin % (1) Using the asset turnover and profit margin times Calculate Bonita's rate of return on assets (1) using the asset turnover and profit margin, and (2) using net income. (Round answers to 2 decimal places, e.g. 52.75%.) Rate of return on assets %
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