question 3

chapter 7 (my lab)

Kirby Grocery Corporation reported the following information in its comparative financial statements for the fiscal year ended January 31, 2021: (click the icon to view the data.) Read the requirements CH Requirement 1. Compute net profit margin ratio (%) for the years ended January 31, 2021 and 2020. Did it improve or worsen in 2021? Identify the formulia, then calculate profit margin for 2021 and 2020. (Round your answers to the nearest hundredth of a percent, XXX%.) = Not profit margin ratio 2021 % 2020 % Data table January 31, January 31, 2021 2020 Net sales $ 51,050 52,500 $ 2,100 $ Net earnings $ 1,800 Average total assets $ $ 29,300 30,000 $ Print Done - X Requirements 1. Compute net profit margin ratio for the years ended January 31, 2021 and 2020. Did it improve or worsen in 2021? 2. Compute asset turnover for the years ended January 31, 2021 and 2020. Did it improve or worsen in 2021? 3. Compute return on assets for the years ended January 31, 2021 and 2020. Did it improve or worsen in 2021? Which component-net profit margin ratio or asset turnoverwas mostly responsible for the change in the company's return on assets? Print Done