Elizabeth Tailors Inc. has assets of $8,540,000 and turns over its assets 1.8 times per year. Return

Question:

Elizabeth Tailors Inc. has assets of $8,540,000 and turns over its assets 1.8 times per year. Return on assets is 16.5 percent. What is the firm’s profit margin (returns on sales)?

Fantastic news! We've Found the answer you've been seeking!

Step by Step Answer:

Related Book For book-img-for-question

Foundations Of Financial Management

ISBN: 9781264097623

18th Edition

Authors: Stanley Block, Geoffrey Hirt, Bartley Danielsen

See More Books

Question Posted: Sep 28, 2023 03:58 AM

See More Questions

Elizabeth Tailors Inc. has assets of $8,940,000 and turns over its assets 1.9 times per year. Return on assets is 13.5 percent. What is the firms profit margin (returns on sales)?
Donovan Bailey's Shoe Stores has $3,000,000 in sales and turns over its assets 3.75 times per year. The firm earns 6.2 percent on each sales dollar. It has $90,000 in current liabilities and $200,000...
A firm has assets of $1,800,000 and turns over its assets 2.5 times per year. Return on assets is 20 percent. What is its profit margin (return on sales)?
If two krypton atoms are held together by a stabilization energy of 1.005 kJ/mol at what temperature would you expect these atoms to transition from bound to unbound? Show your thought process for...
Determine the average tax rate for a corporation that has taxable income of (a) $150,000 (b) $12,000,000.
34. Explain the amortization convention applicable to intangible assets.
Prediction. The line on the scatterplot in Figure II.3 is the leastsquares regression line for predicting brain weight from body weight. Suppose that a new mammal species is discovered hidden in the...
Oregon Company disclosed the following information for its recent calendar year. Revenues . . . . . . . . . . . . . . . . . . . . . . . . . . . . $100,000 Expenses Salaries expense . . . . . . . . ....
Riverbed Chance Co sells computers and video game systems. The business is divided into two divisions along product lines. Variable costing income statements for the current year are presented below:...
JinsAppliances has a return-on-assets (investment) ratio of 8 percent. a. If the debt-to-total-assets ratio is 40 percent, what is the return on equity? b. If the firm had no debt, what would the...
Polly Esther Dress Shops Inc. can open a new store that will do an annual sales volume of $865,800. It will turn over its assets 1.8 times per year. The profit margin on sales will be 9 percent. What...
Modern medicine has made organ transplants a common occurrence, yet the number of organs that people want far exceeds the available supply. According to CNN, 10 people die each day because of a lack...
Prepare the entries to record the transaction 2 A company has three employees, each of whom has been employed since January 1 earns $2750 per month and is paid on the last day of each month On March...
Pet Emporium had a robbery on the weekend in which a large amount of inventory was taken. The loss is covered completely by insurance. A physical inventory count determined that the cost of the...
In a test taken by a class of 50 students, the average was 1500 with a standard deviation of 40. What 2 scores capture the middle 60% of the students?
For questions 1-8, let P = (-2, 5) and Q = (4,8). 1. Find the distance from the point P to the point Q. 2. Find the midpoint of the line segment joining P and Q. 3. Find the slope of the line PQ. 4....
True/False Indicate whether the statement is true or false. ____ 1. In accounting, to value means to record a transaction or event. ____ 2. The recognition issue deals with when a business...
What are the weaknesses of mutual funds?
On August 31, 2012, the balances of the accounts appearing in the ledger of Wood Interiors Company, a furniture wholesaler, are as follows:Prepare the August 31, 2012, closing entries for Wood...
You invest $2,500 a year for three years at 8 percent. a. What is the value of your investment after one year? Multiply $2,500 1.08. b. What is the value of your investment after two years? Multiply...
John Longwaite will receive $100,000 in 50 years. His friends are very jealous of him. If the funds are discounted back at a rate of 14 percent, what is the present value of his future "pot of gold"?
Barney Smith invests in a stock that will pay dividends of $3.00 at the end of the first year, $3.30 at the end of the second year, and $3.60 at the end of the third year. Also, he believes that at...
En prenant un exemple de votre choix, montrer comment on value un swap de taux de change.
How much would you need to invest today in order to receive: a. $10,000 in 5 years at 11%? b. $11,000 in 12 years at 8%? c. $12,000 each year for 10 years at 8%? d. $12,000 at the beginning of each...
A company that manufactures pulse Doppler insertion flow meters uses the Straight Line method for book depreciation purposes. Newly acquired equipment has a first cost of $190,000 with a 3-year life...

Elizabeth Tailors Inc. has assets of $8,540,000 and turns over its assets 1.8 times per year. Return

Question:

Step by Step Answer:

Elizabeth Tailors Inc Sales Assets ...View the full answer

Foundations Of Financial Management

Students also viewed these Business questions