Pharoah Company reports the following information (in millions) during a recent year: net sales, $13,875.0; net earnings, $693.8; totalassets, ending, $5,600.0; and total assets, beginning, $5,500.0.(a) Calculate the (1) return on assets, (2) asset turnover, and (3) profit margin. (Round answers to 1 decimal place, e.g. 6.2% or 6.2.)1.Return on assets2.Asset turnover7.9%2.5times3.Profit margin19.9%

Step 1: Given, Net sales = $13,875.0,Net earnings = $693.8,Total assets(ending) = $5,600.0, and…

Answered: Pharoah Company reports the following…

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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QueensLand Ltd. had the following operating results for 2021: sales = $20,200; cost of goods sold = $8,200; depreciation expense = $1,200; interest expense = $1,400; dividends paid = $600. At the beginning of the year, net fixed assets were $9,100, current assets were $3,200, and current liabilities were $1,800. At the end of the year, net fixed assets were $9,700, current assets were $3,850, and current liabilities were $2,100. The tax rate for 2021 was 34%. What was the OCF for the year 2021? a. $9,600 b. $7,604 c. $6,204 d. $8,804
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am. 119.
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