EBK CFIN
6th Edition
ISBN: 9781337671743
Author: BESLEY
Publisher: CENGAGE LEARNING - CONSIGNMENT
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Chapter 2, Problem 8PROB
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To determine: Sales Revenues, Net Income and Profit Margin
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At the end of the year, Wrinkle Free Laundry (WFL) had $150,000 in total assets.
(a)If WFL’s total assets turnover was 2.0, what were its sales revenues?
(b)If WFL’s return on assets was 6 percent, what were its net income and net profit margin?
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At the end of the year, Universal Utilities (UU) had $1.5 million in total assets. Its total assets turnover was 1.4, and its return on assets (ROA) was 7.14 percent. What were UU's sales revenues and net profit margin?
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- Brandt Corporation had sales revenue of 500,000 for the current year. For the year, its cost of goods sold was 240,000, its operating expenses were 50,000, its interest revenue was 2,000, and its interest expense was 12,000. Brandts income tax rate is 30%. Prepare Brandts multiple-step income statement for the current year.arrow_forwardDuring the current year, Sokowski Manufacturing earned income of $350,000 from total sales of $5,500,000 and average capital assets of $12,000, 000. What is the sales margin?arrow_forwardDuring the current year. Plainfield Manufacturing earned income of $845,000 from total sales of $9,350,000 and average capital assets of $13,500,000. What is the sales margin?arrow_forward
- X-1 Corp's total assets at the end of last year were $440,000 and its EBIT was $55,000. What was its basic earning power (BEP) ratio?arrow_forwardPlease help mearrow_forwardThe balance sheet of ATLF, Inc. reports total assets of $950,000 and $1,050,000 at the beginning and end of the year, respectively. Net income and sales for the year are $100,000 and $800,000, respectively. What is ATLF's profit margin? Select one: a. 8% b. 15% c. 10% d. 80% e. 12.5%arrow_forward
- During the current year, Sokowski Manufacturing earned income of $422,100 from total sales of $6,300,000 and average capital assets of $11,900,000. What is the sales margin? If required, round your answer to one decimal place.arrow_forwardLast year, Hassan's Madhatter, Inc. had an ROA of 6 percent, a profit margin of 12.80 percent, and sales of $15 million. Calculate Hassan's Madhatter's total assets. (Enter your answer in dollars, rounded to the nearest dollar.) Total assetsarrow_forwardRappaport Corp.'s sales last year were $375,000, and its net income after taxes was $23,000. What was its profit margin on sales? Select the correct answer. a. 6.19 % b. 6.21 % c. 6.17 % d. 6.13 % e. 6.15 %arrow_forward
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