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Peyton's Palace has net income of $14 million on sales revenue of $120 million. Total assets were $86 miltion at the beginning of the year
Peyton's Palace has net income of $14 million on sales revenue of $120 million. Total assets were $86 miltion at the beginning of the year and $94 million at the end of the year. Calculate Peyton's return on assets, profit margin, and asset turnover ratios. (Enter your answers in millions. (i.e., $5,500,000 should be entered as 5.5).) Hint: Return on Assets = Net income / Average Total Assets Hint: Pront Margin = Net income / Not Soles Hint: Asset Tumover Ratio = Net Sales/Average Total Assets
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