G Selected financial statement dans for Homes Company pl Sales Returns Cost of goods sold Interest expense Gross income Total expenses Total assets (ending) 850,000 $1,200,000 200,000 700,000 10,000 180,000 20,000 Total ordinary shareholders' equity (ending) 650,000 Total assets at the beginning of the year were $750,000; total ordinary shareholders' equity was $550,000 at the beginning of the period. Compute each of the following: (a) Asset turnover(3 Marks) (b) Profit margin(2 Marks) (c) Return on assets(3 Marks) (d) Return on ordinary shareholders' equity(3 Marks) Note: Asset Tumover Net Sales/Average Assets Profit Margin Net Income /Net Sales Return on Assets Net Income/ Average assets Return on Ordinary Shareholders' equity (Net Income- Preference share dividends)/Average Ordinary shareholders equity TTT Arial : 3(12) k Save and Submit to save and submit. Click Save All Answers to save all answers. QUESTION 15 B. Selected financial statement data for Holmes Company as presented below Cross sales $1,200,000 Sales Returns 200,000 Cost of goods sold I 700,000 Interest expense 10,000 Gross income Total expenses Total assets (ending) 850,000 180,000 20,000 Total ordinary shareholders' equity (ending) 650,000 Total assets at the beginning of the year were $750,000; total ordinary shareholders' equity was $550,000 at the beginning of the period Compute each of the following: (a) Asset turnover(3 Marks) (b) Profit margin(2 Marks) (c) Return on assets(3 Marks) (d) Return on ordinary shareholders' equity(3 Marks) Note: Asset Turnover Net Sales/Average Assets Profit Margine Net Income/Net Sales Return on Assets Net Income/ Average assets Return on Ordinary Shareholders' equity (Net Income-Preference share dividends)/Average Ordinary shareholders equity TTT Arial 3(12pt) T ck Save and Submit to save and submit. Click Save All Answers to save all answers