Northern Systems reported the following financlal 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 financlal 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

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

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