Question
For the year ended December 31, 2013, Taylor & Partridge, earned an ROI of 15%. Sales for the year were $14 million, and average asset
| For the year ended December 31, 2013, Taylor & Partridge, earned an ROI of 15%. Sales for the year were $14 million, and average asset turnover was 2.1. Average stockholders' equity was $2.8 million. |
| Required: | |
| a. | Calculate Taylor & Partridge's margin and net income.(Round your "margin" answer to 1 decimal place (i.e., 32.1).)
Margin% : Net Income: |
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Accounting Principles
Authors: Jerry J. Weygandt, Paul D. Kimmel, Donald E. Kieso
13th edition
978-1-119-4110, 1119411483, 9781119411017, 978-1119411482
