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P11-26A Net sales, net income, and total assets for Aaron Shipping, Inc., for a five-year period follow: mn (in thousands) Net sales.. Net income Total

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P11-26A Net sales, net income, and total assets for Aaron Shipping, Inc., for a five-year period follow: mn (in thousands) Net sales.. Net income Total assets 2017 $900 50 308 2016 $400 39 269 2015 $352 46 252 2014 $314 37 231 2013 $296 24 209 Requirements 1. Compute trend percentages for each item for 2014 through 2017. Use 2013 as the base year and round to the nearest percent. 2. Compute the return on net sales for 2015 through 2017, rounding to three decimal places. Explain what this means, 3. Compute asset turnover for 2015 through 2017. Explain what this means. 4. Compute the return on average total assets (ROA) for 2015 through 2017. 5. How does Aaron Shipping's return on net sales for 2017 compare with previous years? How does it compare with that of the industry? In the shipping industry, rates above 5% are considered good, and rates above 7% are outstanding. 6. Evaluate Aaron Shipping, Inc.'s ROA for 2017, compared with previous years, and against a 15% benchmark for the industry

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