Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

Question 5 (2 points) Last year YYY Company had a 4.00% net profit margin based on $30,000,000 in sales and $15,000,000 of total assets. During

Question 5 (2 points)\ Last year YYY Company had a

4.00%

net profit margin based on

$30,000,000

in sales and

$15,000,000

of total assets. During the coming year, the president has a goal of attaining a

8%

return on total assets. How much must firm sales equal, other things being the same, for the goal to be achieved? (Round your answer to nearest dollar.)\

$34,358,100

\

$30,000,000

\

$30,000,000

\

$32,919,000

\

$26,919,000
image text in transcribed

Question 5 (2 points) Last year YYY Company had a 4.00% net profit margin based on $30,000,000 in sales and $15,000,000 of total assets. During the coming year, the president has s a goal of attaining a 8% return on total assets. How much must firm sales equal, other things being the same, for the goal to be achieved? (Round your answer to t nearest dollar.) $34,358,100 $30,000,000 $30,000,000 $32,919,000 $26,919,000

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access to Expert-Tailored Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

blur-text-image_2

Step: 3

blur-text-image_3

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Recommended Textbook for

Accounting

Authors: Carl s. warren, James m. reeve, Philip e. fess

21st Edition

978-0324400205, 324225016, 324188005, 324400209, 9780324225013, 978-0324188004

More Books

Students also viewed these Accounting questions

Question

Compare the usefulness and limitations of WMANs, WLANs, and WPANs.

Answered: 1 week ago

Question

Define the term job analysis. P-96

Answered: 1 week ago