Need help with this question solution general accounting Prime Co. had the following 2023 financial statement relationships:Asset turnover: 4 Profit margin on sales: 0.03What was Prime's 2023 percentage return on assets?a. 0.75%b. 3%c. 12%d. 15%

Step 1: Definition of Return on Assets (ROA)Return on Assets (ROA) measures a company's…

Answered: Prime Co. had the following 2023…

Managerial Accounting: The Cornerstone of Business Decision-Making

7th Edition

ISBN:9781337115773

Author:Maryanne M. Mowen, Don R. Hansen, Dan L. Heitger

Publisher:Maryanne M. Mowen, Don R. Hansen, Dan L. Heitger

Chapter15: Financial Statement Analysis

Section: Chapter Questions

Problem 6MCQ

See similar textbooks

Similar questions

Return on assets in 2023 ? General accounting
Return on assets in 2023 ?
General Accounting
Please need answer the general accounting question
8. Trend Ratios, Application of some Financial Ratios and their Interpretation Some of the balance sheet and income statement figures of Sapphire Mfg. CO. for 2016, 2017 and 20181 are as follows. 2018 P30,000 2016 2017 Quick assets P40,000 P48,000 65,000 25,000 80,000 50,000 Current assets 50,000 40,000 110,000 200,000 Investments 160,000 135,000 Plants, property and equipment, net Total assets 250,000 265,000 Current liabilities 45,000 50,000 100,000 75,000 Long Term debt Total stockholders' equity 40,000 50,000 105,000 125,000 125,000 Total liabilities and stockholders' Equity 200,000 400,000 240,000 250,000 265,000 Sales 375,000 500,000 Cost of goods sold Operating expenses (including Depreciation of P10,000) 255,000 290,000 110,000 95,000 105,000 Net income 50,000 50,000 130,000 a) Compute for the trend ratios based on the above given data and give your interpretation of the 2017 and 2018 figures.
Current Attempt in Progress Suppose selected comparative statement data for the giant bookseller Barnes & Noble are as follows. All balance sheet data are as of the end of the fiscal year (in millions). Net sales Cost of goods sold Net income Accounts receivable Inventory Total assets Total common stockholders' equity 2022 $5,050.3 3,700.7 65.1 65.0 1,250.1 2,950.1 940.6 2021 $5,800.9 3,200.1 190.9 106.6 1,350.1 3,250.1 1,100.5
What is the return on assets for this general accounting question?
Financial metricsfor crystal GlobeTravel include a total asset turnoverof 1,25 and a return equity of14,30 %, and a debit ratio of 15 % with total asset amounting to R3588 as per the statementof financial position, and considering the financing structure comprising both debt and equity,what is the net profit margin of the company?
provide reasons for the attached calculated ratios using GSK 2023 annual report and provide non-financail performance analysis examples for GSK 2023.
Need help with this accounting question
Condensed balance sheet and income statement data for Oriole Corporation are presented here. Cash Accounts receivable (net) Other current assets Investments Property, plant, and equipment (net) Current liabilities Long-term debt Common stock, $10 par Retained earnings Oriole Corporation Balance Sheets December 31 2022 $ 30,100 49,800 89,600 55,100 500,100 $724,700 24 $84,500 145.700 381,000 113.500 $724,700 Sales Less: Sales returns and allowances Net sales Cost of goods sold Gross profit Operating expenses (including income taxes) Net income Oriole Corporation Income Statement For the Years Ended December 31 2022 $16,100 45,500 95,000 70,000 370,800 $597,400 $79,400 84,300 319,000 114,700 $597,400 2021 $744.500 39 200 705 300 424.700 280,600 188.911 $91.689 2021 $605,400 30,700 574.700 366.000 208.700 151 200 $57.470 2020 $18,300 47,900 63,000 46,000 358,600 $533,800 306,000 107,400 $533,800 $69,700 50,700 Additional information: The market price of Oriole's common stock was…
General Accounting

SEE MORE QUESTIONS

Recommended textbooks for you

Managerial Accounting: The Cornerstone of Busines…

Accounting

ISBN:

9781337115773

Author:

Maryanne M. Mowen, Don R. Hansen, Dan L. Heitger

Publisher:

Cengage Learning

Entrepreneurial Finance

Finance

ISBN:

9781337635653

Author:

Leach

Publisher:

Cengage

EBK CONTEMPORARY FINANCIAL MANAGEMENT

Finance

ISBN:

9781337514835

Author:

MOYER

Publisher:

CENGAGE LEARNING - CONSIGNMENT

Managerial Accounting: The Cornerstone of Busines…

Accounting

ISBN:

9781337115773

Author:

Maryanne M. Mowen, Don R. Hansen, Dan L. Heitger

Publisher:

Cengage Learning

Entrepreneurial Finance

Finance

ISBN:

9781337635653

Author:

Leach

Publisher:

Cengage

EBK CONTEMPORARY FINANCIAL MANAGEMENT

Finance

ISBN:

9781337514835

Author:

MOYER

Publisher:

CENGAGE LEARNING - CONSIGNMENT

Survey of Accounting (Accounting I)

Accounting

ISBN:

9781305961883

Author:

Carl Warren

Publisher:

Cengage Learning

SEE MORE TEXTBOOKS

Prime Co. had the following 2023 financial statement relationships: Asset turnover: 4 Profit margin on sales: 0.03 What was Prime's 2023 percentage return on assets? a. 0.75% b. 3% c. 12% d. 15%