Return on Assets Ratio and Asset Turnover Ratio Campo Systems reported the following financial data (in millions) in its annual report: Previous Year Current Year Net Income $11,052 $9,134 Net Sales 69,540 66,117 Total Assets 88,734 98,128 If the company's total assets are $85,676 at the beginning of the previous year, calculate the company’s: (a) return on assets (round to one decimal point) (b) asset turnover for both years (round to two decimal points) Previous Year Current Year a. Return on Assets Ratio Answer Answer b. Asset Turnover Ratio Answer Answer PreviousSave AnswersNext
Return on Assets Ratio and Asset Turnover Ratio Campo Systems reported the following financial data (in millions) in its annual report: Previous Year Current Year Net Income $11,052 $9,134 Net Sales 69,540 66,117 Total Assets 88,734 98,128 If the company's total assets are $85,676 at the beginning of the previous year, calculate the company’s: (a) return on assets (round to one decimal point) (b) asset turnover for both years (round to two decimal points) Previous Year Current Year a. Return on Assets Ratio Answer Answer b. Asset Turnover Ratio Answer Answer PreviousSave AnswersNext
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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Return on Assets Ratio and Asset Turnover Ratio
Campo Systems reported the following financial data (in millions) in its annual report:
| Previous Year | Current Year | |
|---|---|---|
| Net Income | $11,052 | $9,134 |
| Net Sales | 69,540 | 66,117 |
| Total Assets | 88,734 | 98,128 |
If the company's total assets are $85,676 at the beginning of the previous year, calculate the company’s:
(a) return on assets (round to one decimal point)
(b) asset turnover for both years (round to two decimal points)
| Previous Year | Current Year | ||
|---|---|---|---|
| a. | Return on Assets Ratio | Answer | Answer |
| b. | Asset Turnover Ratio | Answer | Answer |
PreviousSave AnswersNext
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