Homework Help is Here – Start Your Trial Now!
Business
Accounting
Question: 1 Good Times, Inc. has asset turnover of 0.5 times, a net profit margin of 10% and average total assets of $100. What is its net income (assuming no unusual items)? Question: 2 Selected account information (in $ millions) from Target Corporation's 2011 annual report follows. While the company has authorized the issuance of 5 million shares of preferred stock, none have been issued. Net income Total assets 2011 2010 $2,929 $2,920 $46,630 $43,705 Total common shareholders' equity $15,821 $15,487 Calculate Target Corporation's return on assets for 2011.

Question: 1 Good Times, Inc. has asset turnover of 0.5 times, a net profit margin of 10% and average total assets of $100. What is its net income (assuming no unusual items)? Question: 2 Selected account information (in $ millions) from Target Corporation's 2011 annual report follows. While the company has authorized the issuance of 5 million shares of preferred stock, none have been issued. Net income Total assets 2011 2010 $2,929 $2,920 $46,630 $43,705 Total common shareholders' equity $15,821 $15,487 Calculate Target Corporation's return on assets for 2011.

FINANCIAL ACCOUNTING
FINANCIAL ACCOUNTING
10th Edition
ISBN:9781259964947
Author:Libby
Publisher:Libby
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
See similar textbooks
icon
Related questions
Question
Question: 1 Good Times, Inc. has asset turnover of 0.5 times, a net profit margin of 10% and average total assets of $100. What is its net income (assuming no unusual items)? Question: 2 Selected account information (in $ millions) from Target Corporation's 2011 annual report follows. While the company has authorized the issuance of 5 million shares of preferred stock, none have been issued. Net income Total assets 2011 2010 $2,929 $2,920 $46,630 $43,705 Total common shareholders' equity $15,821 $15,487 Calculate Target Corporation's return on assets for 2011.
Transcribed Image Text:Question: 1 Good Times, Inc. has asset turnover of 0.5 times, a net profit margin of 10% and average total assets of $100. What is its net income (assuming no unusual items)? Question: 2 Selected account information (in $ millions) from Target Corporation's 2011 annual report follows. While the company has authorized the issuance of 5 million shares of preferred stock, none have been issued. Net income Total assets 2011 2010 $2,929 $2,920 $46,630 $43,705 Total common shareholders' equity $15,821 $15,487 Calculate Target Corporation's return on assets for 2011.
Expert Solution
steps

Step by step

Solved in 2 steps

SEE SOLUTIONCheck out a sample Q&A here
Blurred answer
Similar questions
  • SEE MORE QUESTIONS
Recommended textbooks for you
FINANCIAL ACCOUNTING
FINANCIAL ACCOUNTING
Accounting
ISBN:
9781259964947
Author:
Libby
Publisher:
MCG
Accounting
Accounting
Accounting
ISBN:
9781337272094
Author:
WARREN, Carl S., Reeve, James M., Duchac, Jonathan E.
Publisher:
Cengage Learning,
Accounting Information Systems
Accounting Information Systems
Accounting
ISBN:
9781337619202
Author:
Hall, James A.
Publisher:
Cengage Learning,
Horngren's Cost Accounting: A Managerial Emphasis…
Horngren's Cost Accounting: A Managerial Emphasis…
Accounting
ISBN:
9780134475585
Author:
Srikant M. Datar, Madhav V. Rajan
Publisher:
PEARSON
Intermediate Accounting
Intermediate Accounting
Accounting
ISBN:
9781259722660
Author:
J. David Spiceland, Mark W. Nelson, Wayne M Thomas
Publisher:
McGraw-Hill Education
Financial and Managerial Accounting
Financial and Managerial Accounting
Accounting
ISBN:
9781259726705
Author:
John J Wild, Ken W. Shaw, Barbara Chiappetta Fundamental Accounting Principles
Publisher:
McGraw-Hill Education
SEE MORE TEXTBOOKS