Answered: Last year a company had sales of…

Last year a company had sales of $400,000, a turnover of 2.4, and a return on investment of 24%. What was the company's net operating income for the year? $40,000 $96,000 $20,000 $46,000

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

See similar textbooks

Related questions

Q: A company reports the following for the past year. Sales Income Average assets $ 17,650,000…

A: 1. Compute return on investment for the past year.Numerator: /Denominator: Net Income /Average…

Q: A firm has an ROA of 7.4%, sales of $80, and total assets of $100. What is its profit margin? O…

A: We need to use the following two ratios for calculation of profit margin first we need to calculate…

Q: Suppose that Gyp Sum Industries currently has the balance sheet shown below, and that sales for the…

A: External funds needed to support the planned growth next year, have to be calculated. This is a…

Q: The Central Division for Chemical Company has a return on investment of 30% and an investment…

A: Return on investment can be calculated by multiplying the profit margin by investment turnover. So…

Q: Last year the Your Company had sales of $826,650, net operating income of $81,000, and operating…

A: Turnover = Sales / (Average Operating Assets)

Q: Chavin Company had the following results during August: net operating income, $300,000; turnover, 4;…

A: Average Operating Assets The assets which are used in the ongoing business operations of the company…

Q: Buford Corporation provided the information below. Sales $500,000 Net operating income $54,000…

A: Assets- A corporation has a lot of resources, both financial and non-financial. However, an asset is…

Q: Blaser Corporation had $1,017,000 in invested assets, sales of $1,284,000, operating income…

A: Ratio analysis is a method of measuring the financial position of the organization with different…

Q: You have the following data for a company. What is the return on assets (ROA)? Return on equity =…

A: Return on Assets (ROA): It represents the profitability of the firm in relation to the total assets…

Q: Suppose that Gyp Sum Industries currently has the balance sheet shown below, and that sales for the…

A: When the revenue earned by the company is expected to be lesser than the current value, it is…

Q: A company reported that annual revenue increased from $528 million to $5,100 million over 10 years.…

A: To calculate the geometric mean annual percent increase, we can use the formula:

Q: Mason Corporation had $650,000 in invested assets, sales of $700,000, operating income amounting to…

A: Profit margin is one of the formulas to assess the amount of profit generated by an organization. It…

Q: (Profitability analysis) Last year Triangular Resources earned $4.6 million in net operating income…

A: Here,Net Operating Income is $4.6 millionOperating Profit Margin is 19.7%Total Asset Turnover Ratio…

Q: At the end of last year, Roberts Inc. reported the following income statement (in millions of…

A: To forecast Roberts Inc.'s year-end net income, let's calculate the relevant figures based on the…

Q: The profit margin for Mason Corporation is

A: Profit Margin: It is a measure of profitability for the business. Higher the ratio, the better the…

Q: Blaser Corporation had $1,092,000 in invested assets, sales of $1,214,000, income from operations…

A: Return on investment = Income from operation / Average investment where, Average investment =…

Q: Flitter reported net income of $23,500 for the past year. At the beginning of the year the company…

A: Return on Assets: Return on assets denotes the relationship between a…

Q: Suppose that Gyp Sum Industries currently has the balance sheet shown below, and that sales for the…

A: The AFN refers to the funding that is required by the company for its operations to reach the…

Q: A company has annual sales of $100,000, total debt of $50,000, total equity of $50,000, and a profit…

A: Return on assets tells us how profitable a firm is visa vis its assets. Return on assets = Net…

Q: Rappaport Corp.'s sales last year were $375,000, and its net income after taxes was $23,000. What…

A: Profit margin on sales is ratio of net profit on sales that is as follows: As per formula Profit…

Q: am. 115.

A: Here's why:Margin: Margin ratios (profit margin, gross margin) require revenue data, which is not…

Q: The following data pertain to Waramutse's most recent year of operations. Income $ 12,500,000…

A: Waramutse's residual income for the year is $6,890,000.Explanation:To compute Waramutse's residual…

Q: Last year a company had sales of $600,000, a turnover of 3.6, and a return on investment of 18%. The…

A: Net operating income can be calculated on the bases of the value of an investment and the rate of…

Q: Use the following information to answer question 4-5. Operating data of Peter Company for last year…

A: 4. Turnover = sales / Average operating assets 1.5 = $900,000 / Average operating assets…

Q: The Cardstock Manufacturing Division of the Pulp Paper Company reported the following results from…

A: Capital turnover, also known as asset turnover or capital asset turnover, is a financial ratio that…

Q: Lewis Company has operating income of $265,000. Its return on investment (ROI) is 53%, while its…

A: Total assets are the total worth of resources owned by the business.

Q: Rotablade's net income was $600,000 on sales of $24 million for the year. Average assets for the…

A: Return on Investment: This percentage shows how much profit we have made by investing in how many…

Q: Suppose that Wind Em Corp. currently has the balance sheet shown below, and that sales for the year…

A: Retained earnings refer to the percentage of profit retained or withheld by the company for further…

Q: A company reports the following for the past year. Sales Income Average assets $ 11,680,000…

A: Accounting ratios are financial ratios through which a company can analyze its performance in terms…

Q: Elizabeth Tailors Inc. has assets of $8,540,000 and turns over its assets 1.8 times per year. Return…

A: A sale is an agreement between a buyer and a seller in which a seller exchanges money in exchange…

Q: Chambliss Corp.'s total assets at the end of last year were $265,000 and its EBIT was 62,500. What…

A: Here, Total Assets is $265,000 EBIT is $62,500

Q: At the end of last year, Ralph Inc. reported the following income statement (in millions of…

A: Formulas:

Q: Bede’s Company's sales last year totaled £150,000 and its return on investment (ROI) was 12%. If the…

A: The return on investment for a firm is sometimes also called the return on assets and can be…

Q: Use this information for Mason Corporation to answer the question that follow. Mason Corporation had…

A: Ratio analysis: This is the quantitative analysis of financial statements of a business enterprise.…

Q: Suppose that Psy Ops Industries currently has the balance sheet shown below, and that sales for the…

A: The objective of the question is to calculate the amount of additional funds that Psy Ops Industries…

Q: Mason Storm Inc. has a profit margin of 16% based on revenues of $400,000 and an investment turnover…

A: Residual income is the income which is in excess of the net operating income less a charge of…

Q: Operating profit margin is 8.65%. Sales to assets ratio is 3.20. Assets are 630,000. Equity is…

A: Net income is the amount of money that an entity earned after deducting all the expenses from the…

Q: ast year Triangular Resources earned $5.4 million in net operating income and had an operating…

A: The total investment in sales can be calculated by combining the formulas of operating profit margin…

Q: For the most recent year, Robin Company reports operating income of $660,000. Robin's sales margin…

A: ROI = Sales margin x Capital turnover

Q: A company reports the following for the prior year: $1.6 million in sales $1 million in total assets…

A: Sales last year=$1600000Total assets=$1000000Net income=$160000Account payable=$48000Accrued…

Q: CONSIDER THE FOLLOWING INFORMATION FOR A PARTICULAR COMPANY. CALCULATE THE TURNOVER. BRAVO COMPANY…

A: Approach to solving the question:To calculate the turnover for Bravo Company, we need to understand…

Question

Last year a company had sales of $400,000, a turnover of 2.4, and a return on investment of 24%. What was the company's net operating income for the year?
$40,000
O $96,000
$20,000
O $46,000

Expert Solution

This question has been solved!

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

This is a popular solution!

SEE SOLUTION Check out a sample Q&A here

Step 1

VIEW

Step 2

VIEW

Trending now

This is a popular solution!

Step by step

Solved in 2 steps with 1 images

SEE SOLUTION Check out a sample Q&A here

Knowledge Booster

Learn more about

Need a deep-dive on the concept behind this application? Look no further. Learn more about this topic, accounting and related others by exploring similar questions and additional content below.

Similar questions

A company reports the following for the prior year: $1.6 million in sales $1 million in total assets $160, 000 in net income $800, 000 in equity (at the beginning of this prior year) $520, 000 in current assets $480, 000 in fixed assets $48, 000 ir accounts payable $32,000 in accrued liabilities The company projects that the sales will grow at 30 % . Calculate the AFN or this company assuming 80% retention ratio. a. $134,425 b. $127,650 c. $109,600 d. $76,950
14. Briggs Company has operating income of $33,516, invested assets of $133,000, and sales of $478,800. Use the DuPont formula to compute the return on investment. If required, round your answers to two decimal places. a. Profit margin ____ % b. Investment turnover ____ c. Return on investment ____ %
29.
The balance sheet of ATLF, Inc. reports total assets of $950,000 and $1,050,000 at the beginning and end of the year, respectively. Net income and sales for the year are $100,000 and $800,000, respectively. What is ATLF's profit margin? Select one: a. 8% b. 15% c. 10% d. 80% e. 12.5%
Bell Inc.'s tax rate was 25% last year. Last year, the company realized $1,500,000 in operating income (EBIT). Its annual interest expense is $1,000,000. What was the company's net income for the year? $900,000 O $750,000 $588,300 O $1,028,250 $375,000
Provide Answer for this Question
Operating data from Tindall Company for last year follows: Sales.... $900,000 $500,000 Stockholders' equity Return on investment. 12% Average operating assets 2 Turnover. Residual income. Minimum required rate of return.... Total assets The average operating assets amounted to: Select one: a. $600,000 b. $400,000 c. $500,000 d. $800,000 1.5 ? 10% $800,000
11. Briton Company has operating income of $36,000, invested assets of $180,000, and sales of $720,000. Use the DuPont formula to compute the return on investment and show (a) the profit margin, (b) the investment turnover, and (c) the return on investment.
Royce Corp's sales last year were $250,000, and its net income was $23,000. What was its profit margin? a. 9.38% b. 9.57% c. 8.37% d. 9.20% e. 11.32%
Last year a company had sales of $400,000, a turnover of 2.4, and a return on investment of 36%. The company's net operating income for the year was: A. B. C. D. E. F. $144,000 $120,000 $80,000 $60,000 $72,000 None of the above
Mason Corporation had $1,162,000 in invested assets, sales of $1,265,000, operating income amounting to $208,000, and a desired minimum return on investment of 14%. The profit margin for Mason Corporation is Oa. 17.9% b. 14.0% Oc. 91.9% Od. 16.4%