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The income statement for Stretch-Tape Corporation reports net sales of $361,900 and net income of $46,200. Average total assets for the year are $770,000. Stockholders'
The income statement for Stretch-Tape Corporation reports net sales of $361,900 and net income of $46,200. Average total assets for the year are $770,000. Stockholders' equity at the beginning of the year was $470,000, and $17,000 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 Retum on assets Profit margin Asset turnover Return on equity times
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