Selected comparative statement data for Queen Products Company are presented below All balance sheet data are as of December 31 Instructions Compute the following ratios for 2017 (a) Profit margin (b) Asset turnover (c) Return on assets (d) Return on common stockholders equity 2017 2016 $750,000 48...

a Profit margin Net Income Net Profits Net Sales 45000750000 6 b As ...

Selected comparative statement data for Queen Products Company are presented below. All balance sheet data are as

Question:

Selected comparative statement data for Queen Products Company are presented below. All balance sheet data are as of December 31.

2017 2016 $750,000 480,000 Net sales $720,000 Cost of goods sold Interest expense 7,000 45,000 120,000 85,000 580,000 430,000 440,000 5,000 42,000 100,000 75,000 500,000 325,000 Net income Accounts receivable Inventory Total assets Total common stockholders' equity

Instructions

Compute the following ratios for 2017.

(a) Profit margin.

(b) Asset turnover.

(d) Return on common stockholders’ equity.

Balance Sheet
Balance sheet is a statement of the financial position of a business that list all the assets, liabilities, and owner’s equity and shareholder’s equity at a particular point of time. A balance sheet is also called as a “statement of financial...