Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

Selected hypothetical comparative statement data for the giant bookseller Barnes & Noble are presented here. All balance sheet data are as of the end of

Selected hypothetical comparative statement data for the giant bookseller Barnes & Noble are presented here. All balance sheet data are as of the end of the fiscal year (in millions).

2022

2021

Net sales

$4,800.0 $5,600.0

Cost of goods sold

3,648.0 3,996.0

Net income

86.4 129.0

Accounts receivable (net)

84.0 112.0

Inventory

1,300.0 1,246.0

Total assets

3,290.0 2,710.0

Total common stockholders equity

1,012.0 1,042.0

Compute the following ratios for 2022. (Round asset turnover to 2 decimal places, e.g. 1.67. Round all other answers to 1 decimal place, e.g. 1.6 or 1.6%.)

(a)

Profit margin

enter percentages rounded to 1 decimal place

%

(b)

Asset turnover

enter a number of times rounded to 2 decimal places

times

(c)

Return on assets

enter percentages rounded to 1 decimal place

%

(d)

Return on common stockholders equity

enter percentages rounded to 1 decimal place

%

(e)

Gross profit rate

enter percentages rounded to 1 decimal place

%

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

Step: 3

blur-text-image

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

Cost-Benefit Analysis

Authors: Euston Quah, E.J. Mishan

5th Edition

0415350379, 9780415350372

More Books

Students also viewed these Accounting questions