Return on assets (ROA) and fixed asset turnover ratio (Learning Objective 10) 5–10 min.

The following is selected data for Edwards 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 ...............................................

$774,000 66,000 121,000 115,000 276,000 298,000 397,000 413,000 Requirement 1. Calculate the return on assets (ROA) and the fixed asset turnover ratio for Edwards Equipment for the current year. Round your answers to two decimal places.

AppendixLO1