Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

Metlock Inc., a fertilizer company based in Alberta, had the following information on its financial statements for the fiscal years ended December 31. All figures

Metlock Inc., a fertilizer company based in Alberta, had the following information on its financial statements for the fiscal years ended December 31. All figures are in millions of dollars.

2022 2021 2020 2019
Net sales $16,210 $15,759 $16,882 $15,380
Profit 715 1,303 1,498 1,335
Total assets 17,252 15,955 14,378 13,280

a) Calculate Metlock's (1) asset turnover ratio, and (2) return on assets ratio for 2020 through 2022. (Round answers to 2 decimal places, e.g. 52.75.)

2022 2021 2020
Asset turnover ratio times times times
Return on assets ratio % % %

b)

Determine from the results obtained in part (a) if Metlocks:

(1) Asset turnover ratio from 2021 to 2022.
(2) Asset turnover ratio from 2020 to 2021.
(3) Return on assets ratio from 2021 to 2022.
(4) Return on assets ratio from 2020 to 2021.

Options for part b) : 1. Stayed the same

2. improved

3. deteriorated

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

ERP Digital License Management Audit And Compliance

Authors: Gangesh Thakur, Jay Kalaimani

1st Edition

1799104079, 978-1799104070

More Books

Students also viewed these Accounting questions

Question

4. Explain the strengths and weaknesses of each approach.

Answered: 1 week ago

Question

3. Identify the methods used within each of the three approaches.

Answered: 1 week ago