Question
Tiger-Farms has a net income from farm income of $94,000, farm interest expense of $18,000, and owner withdrawals for unpaid labor and management of $40,000.
Tiger-Farms has a net income from farm income of $94,000, farm interest expense of $18,000, and owner withdrawals for unpaid labor and management of $40,000. Average total farm assets of $828,500 and gross revenues of $461,000. Show all work.
- (10pts) Calculate the Rate of Return on Farm Assets and Operating Profit Margin ratios for Tiger-Farms. Interpret.
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Accounting Principles
Authors: Jerry J. Weygandt, Paul D. Kimmel, Donald E. Kieso, Steinbart Romney B.
9th International Edition
0470409460, 978-0470409466
