Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

Liz Raiborn Incorporated has the following financial results for the years 2 0 2 2 through 2 0 2 4 for its three regional divisions:

image text in transcribed
Liz Raiborn Incorporated has the following financial results for the years 2022 through 2024 for its three regional divisions:
\table[[,2022,2023,2024],[Revenue],[Southwest,$14,500,$21,600,$25,600],[Midwest,6,300,6,600,6,800],[Southeast,12,000,12,600,12,900],[Total,$32,800,$40,800,$45,300],[Net Operating Income],[Southwest,$700,$800,$950],[Midwest,850,1,200,1,150],[Southeast,600,800,1,200],[Total,$2,150,$2,800,$3,300],[Average Total Assets],[Southwest,$13,600,$13,800,$16,400],[Midwest,4,300,3,800,3,800],[Southeast,4,900,5,200,5,200],[Total,$22,800,$22,800,$25,400]]
Required:
Calculate return on sales (ROS), asset turnover (AT), and return on investment (ROI) for each division and also for the firm as a whole for each of the three years 2022,2023, and 2024.(Note: Due to rounding your percentages, the totals for the firm might not be the actual total of the individual divisions.)(Round "Asset turnover (AT)" answers to 3 decimal places and other answers to 1 decimal place.)
\table[[2022,2023,2024,],[Return on sales (ROS),,,,,,],[Southwest,,%,,%,,%],[Midwest,,%,,%,,%],[Southeast,,%,,%,,%],[Firm,,%,,%,,%],[,,,,,,],[Asset turnover (AT),,,,,,],[Southwest,,,,,,],[Midwest,,,,,,],[Southeast,,,,,,],[Firm,,,,,,],[,,,,,,],[Return on investment (ROI),,,,,,],[Southwest,,%,,%,,%],[Midwest,,%,,%,,%],[Southeast,,%,,%,,%],[Firm,,%,,%,,%]]
image text in transcribed

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

Step: 3

blur-text-image

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

Financial Accounting

Authors: Carl S. Warren, James M. Reeve, Jonathan Duchac

15th edition

1337272124, 978-1337515504, 1337515507, 978-1337272155, 978-1337272124

More Books

Students also viewed these Accounting questions

Question

How is the market price of a security determined?

Answered: 1 week ago

Question

What is job rotation ?

Answered: 1 week ago