The R.M Smithers Corporation earned an operating profit margin of 11.5 percent b

Question

The R.M Smithers Corporation earned an operating profit margin of 11.5 percent bassed on sales of $10.4 million and toal assets of $4.7 million last year. a. What was Smithers' total asset turnover ratio? B. During the coming year the company's president has set a goal of attaining a toal asset turnover of 3.5. How much firm sales inrease, other thnings being the same, for the goal to be achieved?( state your answer in both dollars and the corresponding percent increase in sales.) C. Waht ws Smithers'operationg return on assests last year? Assuming the firm's operationg profit margin remains the same, what will the opeation return on asses be next year if the total asset turnover gaol is achieved?

Explanation / Answer

The R.M Smithers Corporation earned an operating profit margin of 11.5 percent b

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