MESSAGE MY Inst GNMENT RESOURCES oter 18 Homework xcel Exerrise 18-1 Your answer

Question

MESSAGE MY Inst GNMENT RESOURCES oter 18 Homework xcel Exerrise 18-1 Your answer is incorrect. Try again. Selected comparative statement data for Queen Products Company are presanted below. All balance sheet data are as of December 31 Excel Problem 18- 2017 2016 Net sales Cast of goods sold Interest expenso Net Incomme Accounts receivable 5761,500 $718,500 481,500441,000 5,200 44,500 115,500105,500 Exercise 18.9 6,000 47,000 view Score view Results by Study Inventory 80,900 jective Total assets Total common stockholders' equity 576,800497,700 428,000 327.200 Compute the fallowing ratios for 2017. (Round answers to , decrmalnuce eg, 1.6, or 1.0%.) Profit margin Asset turnover Returm on asse Return cn imes O Type here to search

Explanation / Answer

Profit Margin= (Net Income/Net Sales) X 100 = 47000/761500 X 100 = 6.17%

Asset Turnover = Turnover/Average Assets= 761500/(576800+497700)/2 = 1.4

Return on assets=Net Income/Average Assets X 100 = 47000/537250 X 100 = 8.7%

Return on common stockholders equity = Net Income/Average stockholders equity X 100 = 12.4%

Related Questions

Navigate

• Browse (All)
• Browse M
• Subjects

---

---

Integrity-first tutoring: explanations and feedback only — we do not complete graded work. Learn more.