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Profitability, Liquidity, and Solvency Ratios Shannon Corporation gathered the following information from its financial statements: Net sales $180,000 Net income 25,200 Current assets 40,500 Current liabilities 27,000 Total assets 130,000 Total liabilities 97,500 Using the above data, calculate the following: (1) profit margin, (2) current ratio, (3) debt-to-total assets ratio, and (4) return on assets ratio. Note: Round answers to one decimal place. Profit margin 0 % Current ratio Debt-to-total assets ratio 0 % Return on assets ratio 0 %

Profitability, Liquidity, and Solvency Ratios Shannon Corporation gathered the following information from its financial statements: Net sales $180,000 Net income 25,200 Current assets 40,500 Current liabilities 27,000 Total assets 130,000 Total liabilities 97,500 Using the above data, calculate the following: (1) profit margin, (2) current ratio, (3) debt-to-total assets ratio, and (4) return on assets ratio. Note: Round answers to one decimal place. Profit margin 0 % Current ratio Debt-to-total assets ratio 0 % Return on assets ratio 0 %

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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**Profitability, Liquidity, and Solvency Ratios** Shannon Corporation gathered the following information from its financial statements: | Net sales | $180,000 | |-------------------|------------| | Net income | 25,200 | | Current assets | 40,500 | | Current liabilities| 27,000 | | Total assets | 130,000 | | Total liabilities | 97,500 | Using the above data, calculate the following: 1. Profit margin 2. Current ratio 3. Debt-to-total assets ratio 4. Return on assets ratio **Note:** Round answers to one decimal place. | Profit margin | 0 % | |-----------------------------|-----| | Current ratio | 0 | | Debt-to-total assets ratio | 0 % | | Return on assets ratio | 0 % | [Check] - **Previous** - **Save Answers**
Transcribed Image Text:**Profitability, Liquidity, and Solvency Ratios** Shannon Corporation gathered the following information from its financial statements: | Net sales | $180,000 | |-------------------|------------| | Net income | 25,200 | | Current assets | 40,500 | | Current liabilities| 27,000 | | Total assets | 130,000 | | Total liabilities | 97,500 | Using the above data, calculate the following: 1. Profit margin 2. Current ratio 3. Debt-to-total assets ratio 4. Return on assets ratio **Note:** Round answers to one decimal place. | Profit margin | 0 % | |-----------------------------|-----| | Current ratio | 0 | | Debt-to-total assets ratio | 0 % | | Return on assets ratio | 0 % | [Check] - **Previous** - **Save Answers**
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