Question 1 Selected comparative statement data for Queen Products Company are pr

Question

Question 1 Selected comparative statement data for Queen Products Company are presented below. All balance sheet data are as of December 31. 2017 2016 Net sales Cost of goods sold Interest expense Net income Accounts receivable Inventory Total assets Total common stockholders' equity $763,000 $722,500 483,500 442,500 4,300 42,000 119,000 100,000 73,300 583,400499,800 430,400 320,600 7,500 50,500 89,300 Compute the following ratios for 2017, (Round answers to 1 decimal place, eg. 1.6, or 1.6% .) Profit margin 6.6, 96 Asset turnover times Return on assets Return on common stockholders' equity

Explanation / Answer

profit margin = net income /sales 50500/763000 6.6% Asset turnover = Net sales/average total assets Average total assets=(583400+499800)/2 541600 763000/541600 1.4 Times Return on assets = Net income/average total assets 50500/541600 9.3% return on common stockholders equity = net income/average return on common stockholder's equity (430400+320600)/2 375500 13.4%

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