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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
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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.
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