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Flounder Corporation and Concord Corporation, two companies of roughly the same size, are both involved in the manufacture of shoe-tracing devices. Each company depreciates its
Flounder Corporation and Concord Corporation, two companies of roughly the same size, are both involved in the manufacture of shoe-tracing devices. Each company depreciates its plant assets using the straight-line approach. An investigation of their financial statem reveals the information shown below. Flounder Corp. Concord Corp. Net income $ 271,250 $ 329,130 Sales revenue 1,937,500 2,194.200 Total assets (average) 3.875,000 3,657,000 Plant assets (average) 2,460,000 1,879.000 Intangible assets (goodwill) 391,100 (a) For each company, calculate these values: (Round return on assets and profit margin to 1 decimal place, e.g. 6.2% and asset turnover to 2 decimal places, e.g. 17.54.) Flounder Corp. Concord Corp. (1) Return on assets (2) Profit margin (3) Asset turnover times times
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