Question
Return on Assets Ratio and Asset Turnover Ratio Allied Systems reported the following financial data (in millions) in its annual report: 2015 2016 Net Income
Return on Assets Ratio and Asset Turnover Ratio
Allied Systems reported the following financial data (in millions) in its annual report:
2015 2016
Net Income 19,300 16,134
Net Sales 49,540 47,152
Total Assets 68,734 78,128
If the company's total assets are $65,676 in 2014, calculate the company's:
(a) return on assets (round answers to one decimal place - ex: 10.7%)
(b) asset turnover for 2015 and 2016 (round answers to two decimal places)
2015 2016
Return on Assets Ratio 28.1% 20.7% (These 2 answers are not Correct???) Net Income/total assets *100???
Assets Turnover Ratio 0.74% 0.64% (These 2 are correct)
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