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Determine the 2019 Asset Turnover and Return on Assets for Physics Laboratories using the financial statement information below: 2019 2018 Total assets $840,400 $761,800 Net
Determine the 2019 Asset Turnover and Return on Assets for Physics Laboratories using the financial statement information below:
|
| 2019 | 2018 |
| Total assets | $840,400 | $761,800 |
| Net sales | 5,005,000 | 4,800,000 |
| Cost of goods sold | 2,800,000 | 3,000,000 |
| Net income | 1,584,000 | 1,100,000 |
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