Managerial Accounting: The Cornerstone of Business Decision-Making
7th Edition
ISBN: 9781337115773
Author: Maryanne M. Mowen, Don R. Hansen, Dan L. Heitger
Publisher: Cengage Learning
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Textbook Question
Chapter 15, Problem 51E
Juroe Company provided the following income statement for last year:
Juroe’s balance sheet as of December 31 last year showed total liabilities of $10,250,000, total equity of $6,150,000, and total assets of $16,400,000.
Required:
- 1. Calculate the return on sales. (Note: Round the percent to two decimal places.)
- 2. CONCEPTUAL CONNECTION Briefly explain the meaning of the return on sales ratio, and comment on whether Juroe’s return on sales ratio appears appropriate.
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Chapter 15 Solutions
Managerial Accounting: The Cornerstone of Business Decision-Making
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Financial ratio analysis; Author: The Finance Storyteller;https://www.youtube.com/watch?v=MTq7HuvoGck;License: Standard Youtube License