Return on assets (ROA) and fixed asset turnover ratio

(Learning Objective 10) 5–10 min.

The following is selected data for Richardson Equipment, Inc., for the current year:

Sales ......................................................................

Net income.............................................................

Total current assets, beginning..............................

Total current assets, ending...................................

Property, plant and equipment, beginning .............

Property, plant and equipment, ending ..................

Total assets, beginning ..........................................

Total assets, ending ...............................................

$821,000 63,000 103,000 122,000 305,000 314,000 408,000 436,000 Requirement 1. Calculate the return on assets (ROA) and the fixed asset turnover ratio for Richardson Equipment for the current year. Round your answers to two decimal places.

AppendixLO1