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I keep getting the ROA wrong... PLEASE HELP!! Sheridan Medical manufactures hospital beds and other institutional furniture. The company's comparative balance sheet and income statement
I keep getting the ROA wrong... PLEASE HELP!!
Sheridan Medical manufactures hospital beds and other institutional furniture. The company's comparative balance sheet and income statement for 2019 and 2020 follow. Property, plant, \& equipment, net Total assets \begin{tabular}{rrr} $11,227,5358,717,185 & & 8,440,050 \\ \hline \end{tabular} Liabilities and Stockholders' Equity Current liabilities Long-term debt Total liabilities Preferred stock, $5 par value \begin{tabular}{rrr} $3,167,000 & & $2,846,100 \\ 3,702,600 & & 3,892,700 \\ \hline 6,869,600 & & 6,738,800 \\ \hline 58,950 & & 58,950 \\ 104,650 & & 103,900 \\ 4,194,335 & & 3,660,400 \\ \hline 4,357,935 & & 3,823,250 \\ \hline$11,227,535 & $10,562,050 \\ \hline \end{tabular} Sheridan Medical Comparative Income Statement and Statement of Retained Earnings For the Year Calculate the following profitability ratios for 2020 . (Round answers to 1 decim a. Gross margin percentage b. Return on assetsStep by Step Solution
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