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The 2024 income statement for Circuit TV and Appliance reported net sales of $280,000 and net income of $65,000. Average total assets for 2024 was
The 2024 income statement for Circuit TV and Appliance reported net sales of $280,000 and net income of $65,000. Average total assets for 2024 was $800,000. Shareholders' equity at the beginning of the year was $500,000, and $20,000 was paid to shareholders as dividends. There wereno other shareholders' equity transactions that occurred during the year. Calculate the profit margin on sales, return on assets, and return on equity for 2024. A Company bortowed money from a local bank. The note the company signed requires five annual installment payments of $10.500 not due for three years. The interest rate on the note is 5%. What amount did the company borrow? Note: Use tables, Excel, or a financial calculator, Round your intermediate and final answers to nearest whole dollar amount. (FV of \$1, PV of S1. EVA of S1. PVA of S1, FVAD of \$1 and PVAD of \$1) The 2024 income statement for Circuit TV and Appliance reported net sales of $280,000 and net income of $65,000. Average total assets for 2024 was $800,000. Shareholders' equity at the beginning of the year was $500,000, and $20,000 was paid to shareholders as dividends. There wereno other shareholders' equity transactions that occurred during the year. Calculate the profit margin on sales, return on assets, and return on equity for 2024. A Company bortowed money from a local bank. The note the company signed requires five annual installment payments of $10.500 not due for three years. The interest rate on the note is 5%. What amount did the company borrow? Note: Use tables, Excel, or a financial calculator, Round your intermediate and final answers to nearest whole dollar amount. (FV of \$1, PV of S1. EVA of S1. PVA of S1, FVAD of \$1 and PVAD of \$1)
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