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Circus Ltd. purchased a new machine on April 4, 2020, at a cost of $172,000. The company estimated that the machine would have a residual

image text in transcribed Circus Ltd. purchased a new machine on April 4, 2020, at a cost of $172,000. The company estimated that the machine would have a residual value of $16,000. The machine is expected to be used for 10,000 working hours during its four-year life. Actual machine usage was 1,500 hours in 2020; 2,200 hours in 2021; 2,300 hours in 2022; 2,100 hours in 2023; and 1,900 hours in 2024. Cirrus has a December 31 year end. Ajax Limited reported the following information (in millions) at December 31,2024 : sales $14,000; net income $550; total assets at December 31, 2024, $7,200; and total assets at December 31,2023,$6,800. 15) Calculate Return On Assets 16) Calculate Asset Turnover 17) Calculate Profit Margin (\%) 15) 16) 17)

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