College Accounting
College Accounting
13th Edition
ISBN: 9781337280563
Author: Scott, Cathy J.
Publisher: Cengage Learning,
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Chapter 2, Problem 3DQ
To determine

Describe the term footings in accounting.

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XYZ Corp. had a net income of $1,200 million and sales revenue of $22,500 million in 2022. The company's total assets were $10,000 million at the beginning of the year and $11,500 million at the end of the year. a) Compute the asset turnover ratio. b) Compute the profit margin ratio.
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