Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

help me find ROA please. the answer is not 9.14%. I am dividing NI/ avg total Assets. but cant get the correvt answer. please help

image text in transcribed
image text in transcribed
image text in transcribed
image text in transcribed
image text in transcribed
help me find ROA please. the answer is not 9.14%. I am dividing NI/ avg total Assets. but cant get the correvt answer. please help and explain.
Sandhill Medical manufactures hospital beds and other institutional furniture. The company's comparative balance sheet and income: statement for 2019 and 2020 follow. Total assets $11,263,825$10,561,980 Liabilities and Stockholders' Equity Current liabilities Long-term debt Total liabilities Preferred stock, $5 par value Common stock, $0.25 par value \begin{tabular}{rr} $3,203,000 & $2,846,100 \\ \hline 3,702,700 & 3,892,700 \\ \hline 6,905,700 & 6,738,800 \\ \hline 58,900 & 58,900 \\ 104,600 & 103,800 \end{tabular} Retained earnings Total stockholders' equity Total liabilities and stockholders' equity \begin{tabular}{rr} 4,358,1254,194,6253,823,1803,660,480 \\ \hline$11,263,825 & $10,561,980 \\ \hline \end{tabular} Sandhill Medical Comparative Income Statement and Statement of Retainet Earnings \&s Calculate the following profitability ratios for 2020 . (Round answers to 1 decimal place, e.g. 50.1\%.) Calculate the following profitability ratios for 2020 . (Round answers to 1 decimal place, e.g. 50.1\%.) % a. Gross margin percentage b. Return on assets % c. Return on common stockholders' equity %

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access to Expert-Tailored Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

blur-text-image_2

Step: 3

blur-text-image_3

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Recommended Textbook for

Loss Control Auditing A Guide For Conducting Fire Safety And Security Audits

Authors: E. Scott Dunlap

2nd Edition

103244293X, 978-1032442938

More Books

Students also viewed these Accounting questions

Question

=+1. What are the core best practices for social care?

Answered: 1 week ago