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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
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