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Question: A The Purple Martin has annual sales of $687,400, total debt of $210,000, total equity of $365,000, and a profit margin of 4.80 percent. What is the return on assets? Question: B Dimeback Co. has total assets of $9,400,000 and a total asset turnover of 2.44 times. Assume the return on assets is 10 percent. Required: What is its profit margin? (Do not round intermediate calculations. Enter your answer as a percent rounded to 2 decimal places (e.g., 32.16).) Profit margin %

Question: A The Purple Martin has annual sales of $687,400, total debt of $210,000, total equity of $365,000, and a profit margin of 4.80 percent. What is the return on assets? Question: B Dimeback Co. has total assets of $9,400,000 and a total asset turnover of 2.44 times. Assume the return on assets is 10 percent. Required: What is its profit margin? (Do not round intermediate calculations. Enter your answer as a percent rounded to 2 decimal places (e.g., 32.16).) Profit margin %

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: A The Purple Martin has annual sales of $687,400, total debt of $210,000, total equity of $365,000, and a profit margin of 4.80 percent. What is the return on assets? Question: B Dimeback Co. has total assets of $9,400,000 and a total asset turnover of 2.44 times. Assume the return on assets is 10 percent. Required: What is its profit margin? (Do not round intermediate calculations. Enter your answer as a percent rounded to 2 decimal places (e.g., 32.16).) Profit margin %
Transcribed Image Text:Question: A The Purple Martin has annual sales of $687,400, total debt of $210,000, total equity of $365,000, and a profit margin of 4.80 percent. What is the return on assets? Question: B Dimeback Co. has total assets of $9,400,000 and a total asset turnover of 2.44 times. Assume the return on assets is 10 percent. Required: What is its profit margin? (Do not round intermediate calculations. Enter your answer as a percent rounded to 2 decimal places (e.g., 32.16).) Profit margin %
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