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The following amounts were taken from the financial statements of Pharoah Company: 2022 2021 Total assets $807000 $1016000 Net sales 748000 661000 Gross profit 371000
The following amounts were taken from the financial statements of Pharoah Company:
2022
2021
Total assets
$807000 $1016000
Net sales
748000 661000
Gross profit
371000 347000
Net income
109380 121000
Weighted average number of
common shares outstanding
91400 84000
Market price of common stock
$42 $39
The return on assets for 2022 is
14%.
12%.
11%.
6%.
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Auditing A Business Risk Approach
Authors: Larry E. Rittenberg, Karla Johnstone, Audrey Gramling
7th Edition
0324663722, 978-0324663723
