Key financial figures for Akerley Hotels and Akerley Restaurants over the past following year are given below Sales $170,000 $107,000 Income from operations Net income Assets at the beginning of the year Assets at the end of the year 68,000 40,000 50,000 77,000 109,000 65,000 107,000 145,000 a) Calculate the return on total assets percentage for Akerley Hotels. Please make sure your final answer(s) are in percentage form and are accurate to 2 decimal places. (For example: 12.34%) b) Calculate the return on total assets percentage for Akerley Restaurants. Please make sure your final answer(s) are in percentage form and are accurate to 2 decimal places. (For example: 12.34%) c) Which company is more successful in generating the total amount of sales? d) Which company is more successful in producing net income from its investment in assets?

Key financial figures for Akerley Hotels and Akerley Restaurants over the past following year are given below Sales $170,000 $107,000 Income from operations Net income Assets at the beginning of the year Assets at the end of the year 68,000 40,000 50,000 77,000 109,000 65,000 107,000 145,000 a) Calculate the return on total assets percentage for Akerley Hotels. Please make sure your final answer(s) are in percentage form and are accurate to 2 decimal places. (For example: 12.34%) b) Calculate the return on total assets percentage for Akerley Restaurants. Please make sure your final answer(s) are in percentage form and are accurate to 2 decimal places. (For example: 12.34%) c) Which company is more successful in generating the total amount of sales? d) Which company is more successful in producing net income from its investment in assets?

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

See similar textbooks

Similar questions

Complete both
CASE4: Sally Manufacturing company had sales totaling $40,000,000 in fiscal year 2020. Some ratios for the company are listed below. Use this information to determine the $ value of various income statement and balance sheet accounts as required. Sally Manufacturing Company Year ended December 31, 2020 Gross profit margin 80% Operating profit margin 35% Net profit margin 8% Return on assets 16% Return on equity 20% Total asset turnover 2 Average collection period 62.2 days Calculate values and discuss for the following: Gross profits Cost of goods sold Operating profits Earnings available for common stockholders Total assets Account receivable
Return on Assets Ratio and Asset Turnover Ratio Northern Systems reported the following financial data (in millions) in its annual report: Previous Year Current Year Net Income $9,050 $7,500 Net Sales 52,350 37,200 Total Assets 58,734 68,128 If the company’s total assets are $55,676 at the beginning of the previous year, calculate the company’s: (a) return on assets (round answers to one decimal place - ex: 10.7%) (b) asset turnover for both years (round answers to two decimal places) Previous Year Current Year a. Return on Assets Ratio Answer Answer b. Asset Turnover Ratio Answer Answer
The 2023 annual report for Pronghorn Industries Inc. contained the following information: Dec. 31, 2022 Dec. 31, 2023 Total assets 561,000 605,000Total liabilities 65,400 88,900Net revenue 410,000 530,000Net income 54,000 32,000 Calculate the rate of return on assets using profit margin for 2023
Forecast Income Statement and Balance Sheet Following are the income statement and balance sheet for Medtronic PLC. Note: Complete the entire question using the following Excel template: Excel Template. Then enter the answers into the provided spaces below with two decimal places. Medtronic PLC Consolidated Statement of Income $ millions, For Fiscal Year Ended April 26, 2019 Net sales $30,557 Costs and expenses Cost of products sold 9,155 Research and development expense 979 Selling, general, and administrative expense 10,418 Amortization of intangible assets 1,764 Restructuring charges, net 83 Certain litigation charges, net 166 Other operating expense, net 258 Operating profit 7,734 Other nonoperating income, net (157) Interest expense 1,444 Income before income taxes 6,447 Income tax provision 547 Net income 5,900 Net income loss attributable to noncontrolling interests (19) Net income attributable to Medtronic $5,881…
During the current year, Sokowski Manufacturing earned income of $270,000 from total sales of $4,500,000 and average capital assets of $12,100,000. What is the sales margin? If required, round your answer to one decimal place.
Gibson Corporation’s balance sheet indicates that the company has $580,000 invested in operating assets. During 2018, Gibson earned operating income of $67,280 on $1,160,000 of sales. Required Compute Gibson’s profit margin for 2018. Compute Gibson’s turnover for 2018. Compute Gibson’s return on investment for 2018.
The statements of earnings for Pruitt Company summarized for a four-year period show the following (amounts in thousands of dollars): Sales revenue Cost of sales Gross profit Operating expenses Pretax earnings Income tax expense (30%) Net earnings Sales revenue Cost of sales Gross profit 2023 2022 2024 $3,325 $3,750 $4,000 2,155 2,277 2,432 1,170 1,473 1,568 620 643 668 550 830 900 165 249 270 $ 385 $ 581 $ 630 Operating expenses Pretax earnings Income tax expense Net earnings An audit revealed that in determining these amounts, the ending inventory for 2022 was understated by $48. Required: 1. Revise these statements of earnings to reflect the correct amounts. (Do not round intermediate calculations. Round the final answers to the nearest dollar amount.) PRUITT COMPANY Corrected Statement of Earnings 2024 2023 2021 $4,275 2,763 1,512 2022 672 840 252 $ 588 2021
During the current year, Sokowski Manufacturing earned income of $346,500 from total sales of $5,500,000 and average capital assets of $12,700,000. What is the sales margin? If required, round your answer to one decimal place. fill in the blank %
please step by step solution.
Prepare a horizontal analysis of the following comparative income statement for the Buff Bodies Corporation. Round percentage changes to the nearest one-hundredth percent. Buff Bodies Corporation Comparative Income Statement for the Years Ended December 31, 2020 and 2019 2020 2019 Total revenue $1,450,000 $1,300,000 Expenses: Cost of goods sold $ 1,023,000 $ 930,000 Operating expenses 310,000 275,000 Interest expense 12,000 10,000 Income tax expense 48,300 38,000 Total expenses $1,393,300 $1,253,000 Net income $ 56,700 $ 47,000
Return on Total Assets A company reports the following income statement and balance sheet information for the current year: Net income $157,080 Interest expense 27,720 Average total assets 2,800,000 Determine the return on total assets? If required, round the answer to one decimal place.