What was the net sales for the year 2022? Raymond Corp. reported beginningtotal assets of $20,000,000 and endingtotal assets of $24,000,000 for the year2022. The company's asset turnoverratio was 1.8 times. Based on thisinformation, what was the net sales forthe year 2022?

Explanation of Net Sales:Net sales represent the total revenue a company generates from selling…

Answered: Raymond Corp. reported beginning total…

EBK CONTEMPORARY FINANCIAL MANAGEMENT

14th Edition

ISBN:9781337514835

Author:MOYER

Publisher:MOYER

Chapter3: Evaluation Of Financial Performance

Section: Chapter Questions

Problem 19P

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During 2020, Metlock, Inc. reported net sales of $2,850,900 and net income of $1,550,000. Its balance sheet reported average total assets of $1,290,000.Calculate the asset turnover. (Round answer to 2 decimal places, e.g. 1.25.)
In 2021, Noble Tech Inc. reported that the company's Return on Assets (ROA) was 10%, and its net profit margin was 6%. Calculate the company's total asset turnover (round your answer to two decimal places).
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QueensLand Ltd. had the following operating results for 2021: sales = $20,200; cost of goods sold = $8,200; depreciation expense = $1,200; interest expense = $1,400; dividends paid = $600. At the beginning of the year, net fixed assets were $9,100, current assets were $3,200, and current liabilities were $1,800. At the end of the year, net fixed assets were $9,700, current assets were $3,850, and current liabilities were $2,100. The tax rate for 2021 was 34%. What was the OCF for the year 2021? a. $9,600 b. $7,604 c. $6,204 d. $8,804
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Raymond Corp. reported beginning total assets of $20,000,000 and ending total assets of $24,000,000 for the year 2022. The company's asset turnover ratio was 1.8 times. Based on this information, what was the net sales for the year 2022?