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. Why is my total asset turnover wrong? The comparative financial statements for Prince Company are below: Year 2 Year 1 $212,000 117,500 94,500 58,

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Why is my total asset turnover wrong?

The comparative financial statements for Prince Company are below: Year 2 Year 1 $212,000 117,500 94,500 58, 200 36,300 10,200 $ 26,100 $172,500 102,200 70,300 54,100 16,200 5,100 $ 11,100 $ $ Income statement : Sales revenue Cost of goods sold Gross profit Operating expenses and interest expense Pretax income Income tax Net income Balance sheet: Cash Accounts receivable (net) Inventory Property and equipment (net) Total assets Current liabilities (no interest) Long-term liabilities (124 interest) Common stock ($5 par value, 7,100 shares outstanding) Retained earnings Total liabilities and stockholders' equity $ 6,200 15,100 42,200 48,300 $111,800 $ 17,100 46,100 $ 8,100 19,100 38,400 40,200 $105,800 $ 18,100 46,100 35,500 6,100 $105,800 35,500 13,100 $111,800 2. Compute the two components of ROA (total asset turnover and net profit margin) for Year 2. (Round your answers to 2 decimal places.) Answer is complete but not entirely correct. Total asset turnover Net profit margin 1.90 X 12.31 %

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