Question
The 2016 income statement for Anderson TV and Appliance reported sales revenue of $240,000 and net income of $50,000. Average total assets for 2016 was
The 2016 income statement for Anderson TV and Appliance reported sales revenue of $240,000 and net income of $50,000. Average total assets for 2016 was $1,000,000. Shareholders equity at the beginning of the year was $400,000 and $40,000 was paid to shareholders as dividends. There were no other shareholders equity transactions that occurred during the year.
Calculate the profit margin on sales, return on assets, and return on shareholders' equity for 2016.
I need:Profit Margin with numerator / denominator and PROFIT MARGIN Return on Assets with numerator/ denominator and Return on Assets Return on Shareholders Equity numerator/ denominator and Return on Shareholders Equity |
Step by Step Solution
There are 3 Steps involved in it
Step: 1
Get Instant Access to Expert-Tailored Solutions
See step-by-step solutions with expert insights and AI powered tools for academic success
Step: 2
Step: 3
Ace Your Homework with AI
Get the answers you need in no time with our AI-driven, step-by-step assistance
Get Started