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Pharoah Company reports the following information (in millions) during a recent year: net sales, $10,122.0; net earnings, $241.0; total assets, ending, $4,175.0; and total assets, beginning, $5,465.0. (a) Calculate the (1) return on assets, (2) asset turnover, and (3) profit margin. (Round answers to 1 decimal place, e.g. 6.2% and 6.2.) 1.   Return on assets   enter the return on assets in percentages rounded to 1 decimal places % 2.   Asset turnover   enter the asset turnover rounded to 1 decimal places  times 3.   Profit margin   enter the profit margin in percentages rounded to 1 decimal places %

Pharoah Company reports the following information (in millions) during a recent year: net sales, $10,122.0; net earnings, $241.0; total assets, ending, $4,175.0; and total assets, beginning, $5,465.0. (a) Calculate the (1) return on assets, (2) asset turnover, and (3) profit margin. (Round answers to 1 decimal place, e.g. 6.2% and 6.2.) 1.   Return on assets   enter the return on assets in percentages rounded to 1 decimal places % 2.   Asset turnover   enter the asset turnover rounded to 1 decimal places  times 3.   Profit margin   enter the profit margin in percentages rounded to 1 decimal places %

FINANCIAL ACCOUNTING
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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Question 4

Pharoah Company reports the following information (in millions) during a recent year: net sales, $10,122.0; net earnings, $241.0; total assets, ending, $4,175.0; and total assets, beginning, $5,465.0.

(a) Calculate the (1) return on assets, (2) asset turnover, and (3) profit margin. (Round answers to 1 decimal place, e.g. 6.2% and 6.2.)

1.

  

Return on assets

  

enter the return on assets in percentages rounded to 1 decimal places

%

2.

  

Asset turnover

  

enter the asset turnover rounded to 1 decimal places

 times

3.

  

Profit margin

  

enter the profit margin in percentages rounded to 1 decimal places

%
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