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The income statement for Stretch-Tape Corporation reports net sales of $387,100 and net income of $48,980. Average total assets for the year are $790,000. Stockholders
The income statement for Stretch-Tape Corporation reports net sales of $387,100 and net income of $48,980. Average total assets for the year are $790,000. Stockholders equity at the beginning of the year was $490,000, and $19,000 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.)
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