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Please answer this question and explain how you solved it. Thank you! Ratios Analyzing Firm Profitability The following information is available for Crest Company: 2015
Please answer this question and explain how you solved it. Thank you!
Ratios Analyzing Firm Profitability The following information is available for Crest Company: 2015 Annual Data Sales revenue $6,600,000 $6,000,000 Cost of goods sold 4,006,400 3,800,000 Net income 2016 310,000 264,000 Year-End Data Dec. 31, 2016 Dec. 31, 2015 $2,850,000 $2,500,000 Total assets Common stockholders equity 1,900,000 1,800,000 Calculate the following ratios for 2016: Round answers to one decimal place, unless otherwise noted. a. Gross profit percentage 0 % b. Return on sales 0% c. Asset turnover (Round answer to two decimal places.) 0 d. Return on assets Step by Step Solution
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