Titus Corporation and Vane Corporation, two companies of roughly the same size, are both involved in the manufacture of shoe-tracing devices. Each company depreciates its plant assets using the straight-line approach. An investigation of their financial statements reveals the following information. Titus Corp. Vane Corp. $366,740 Net income $257,430 Sales 1,437,210 1,299,350 Total assets (average) 3,413,490 3,369,790 Plant assets (average) 2,555,240 1,803,380 0 Intangible assets (goodwill) 447,740 For each company, calculate these values: 1) Return on assets. 2) Profit margin. 3) Asset turnover.

Titus Corporation and Vane Corporation, two companies of roughly the same size, are both involved in the manufacture of shoe-tracing devices. Each company depreciates its plant assets using the straight-line approach. An investigation of their financial statements reveals the following information. Titus Corp. Vane Corp. $366,740 Net income $257,430 Sales 1,437,210 1,299,350 Total assets (average) 3,413,490 3,369,790 Plant assets (average) 2,555,240 1,803,380 0 Intangible assets (goodwill) 447,740 For each company, calculate these values: 1) Return on assets. 2) Profit margin. 3) Asset turnover.

Auditing: A Risk Based-Approach (MindTap Course List)

11th Edition

ISBN:9781337619455

Author:Karla M Johnstone, Audrey A. Gramling, Larry E. Rittenberg

Publisher:Karla M Johnstone, Audrey A. Gramling, Larry E. Rittenberg

Chapter12: Auditing Long-lived Assets And Merger And Acquisition Activity

Section: Chapter Questions

Problem 28RQSC

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