Last year, the Miller Company reported a return on assets of 15 percent and an asset turnover

Question:

Last year, the Miller Company reported a return on assets of 15 percent and an asset turnover of 1.6 . In the current year, the company reported a return on assets of 19 percent but an asset turnover of only 1.2. If sales revenue remained unchanged from last year to the current year, what would explain the two ratio results?

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

Step by Step Answer:

Related Book For  book-img-for-question
Question Posted: