Question
Allied Construction and Axis Construction reported the following information in their annual financial statements ($ in millions): Allied Construction Sales 2021 2020 Net income
Allied Construction and Axis Construction reported the following information in their annual financial statements ($ in millions): Allied Construction Sales 2021 2020 Net income Total assets $52,000 3,600 28,000 $42,000 3,200 21,000 Axis Construction Sales Net income Total assets 2021 $86,000 3,600 55,000 2020 $72,000 4,300 59,000 Required: 1. Calculate Allied Construction's return on assets, profit margin, and asset turnover ratio for 2021. (Do not round your intermediate calculations. Round your answers to 2 decimal places.) Return on assets Profit margin % % Asset turnover times
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Fundamentals of Financial Accounting
Authors: Fred Phillips, Robert Libby, Patricia Libby, Brandy Mackintosh
4th Canadian edition
978-1259269868, 978-1259103292
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