Martinez Company reported the following financial information: ⚫ Net sales: $4.8 million ⚫ Beginning total assets: $1.2 million ⚫ Ending total assets: $1.8 million What is Martinez Company's average total assets?
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- General accounting questionCalculating the Average Total Assets and the Return on Assets The income statement, statement of retained earnings, and balance sheet for Santiago Systems are as follows: Santiago Systems Income Statement For the Year Ended December 31, 20X2 Amount Percent Net sales $5,345,000 100.0% Less: Cost of goods sold (3,474,250) 65.0 Gross margin $1,870,750 35.0 Less: Operating expenses (1,140,300) 21.3 Operating income $730,450 13.7 Less: Interest expense (27,000) 0.5 Income before taxes Less: Income taxes (40%)* $703,450 13.2 (281,380) 5.3 Net income $422,070 7.9 * Includes both state and federal taxes.General accounting
- I need provideMarino Company has provided the following information: Net sales, $480,000 Net income, $24,000 Average total assets, $200,000 What is Marino's net profit margin?Selected data from Decco Company are presented below: Total assets $1,600,000 Average assets 2,000,000 Net income 380,000 Net sales 1,500,000 Average common stockholders' equity 1,000,000 Instructions Calculate the following profitability ratios from the above information. 1. Profit margin. 2. Asset turnover. 3. Return on assets.
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