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Pharoah Mart and Sheridan Shop are two companies of roughly the same size both running a chain of convenience stores. Each company depreciates its plant

Pharoah Mart and Sheridan Shop are two companies of roughly the same size both running a chain of convenience stores. Each company depreciates its plant assets using the straight-line method. An investigation of their financial statements reveals the following information:

Pharoah Mart

Sheridan Shop

Net income

$113,274 $117,100

Sales revenue

801,000 990,000

Total assets (average)

3,906,000 4,941,000

Plant assets (average)

1,485,000 1,710,000

For each company, calculate: (Round answers to 2 decimal places, e.g. 52.75.)

Pharoah Mart

Sheridan Shop

A.

Return on assets

enter percentages % enter percentages %

B.

Asset turnover

enter ratio enter ratio

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