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Northern Systems reported the following financial data (in millions) in its annual report: 2018 2019 Net Income $9,050 $7,500 52,350 37,200 Total Assets 58,734 68,128 Net Sales If the company's total assets are $55,676 in 2017, calculate the company's: (a) return on assets (round answers to one decimal place - ex: 10.7%) (b) asset turnover for 2018 and 2019 (round answers to two decimal places) 2018 2019 a. Return on Assets Ratio 96 96 b. Asset Turnover Ratio

Northern Systems reported the following financial data (in millions) in its annual report: 2018 2019 Net Income $9,050 $7,500 52,350 37,200 Total Assets 58,734 68,128 Net Sales If the company's total assets are $55,676 in 2017, calculate the company's: (a) return on assets (round answers to one decimal place - ex: 10.7%) (b) asset turnover for 2018 and 2019 (round answers to two decimal places) 2018 2019 a. Return on Assets Ratio 96 96 b. Asset Turnover Ratio

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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Return on Assets Ratio and Asset Turnover Ratio Northern Systems reported the following financial data (in millions) in its annual report: 2018 2019 Net Income $9050 $7,500 Net Sales 52,350 37,200 Total Assets 58,734 68,128 If the company's total assets are $55,676 in 2017, calculate the company's: (a) return on assets (round answers to one decimal place - ex: 10.7%) (b) asset turnover for 2018 and 2019 (round answers to two decimal places) 2018 2019 a. Return on Assets Ratio 96 9% b. Asset Turnover Ratio
Transcribed Image Text:Return on Assets Ratio and Asset Turnover Ratio Northern Systems reported the following financial data (in millions) in its annual report: 2018 2019 Net Income $9050 $7,500 Net Sales 52,350 37,200 Total Assets 58,734 68,128 If the company's total assets are $55,676 in 2017, calculate the company's: (a) return on assets (round answers to one decimal place - ex: 10.7%) (b) asset turnover for 2018 and 2019 (round answers to two decimal places) 2018 2019 a. Return on Assets Ratio 96 9% b. Asset Turnover Ratio
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