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The income statement for Stretch-Tape Corporation reports net sales of $467,500 and net income of $57,800. Average total assets for the year are $850,000. Stockholders'
The income statement for Stretch-Tape Corporation reports net sales of $467,500 and net income of $57,800. Average total assets for the year are $850,000. Stockholders' equity at the beginning of the year was $550,000, and $25,000 was paid to stockholders as dividends during the year. There were no other stockholders' equity transactions that occurred during the year. Required: Calculate the return on assets, profit margin, asset turnover, and return on equity ratios. (Round your answers to 1 decimal place.) Profitability Ratios Return on assets Profit margin Asset turnover Return on equity times
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