The following amounts are from Shimura Companys financial statements at the end of the current year: total

Question:

The following amounts are from Shimura Company’s financial statements at the end of the current year: total assets, $426,000; total liabilities, $172,000; owner’s equity, $254,000; net sales, $782,000; cost of goods sold, $486,000; operating expenses, $178,000; and withdrawals, $40,000. During the current year, total assets increased by $75,000. Total owner’s equity was affected only by net income and withdrawals. Compute the
(1) Profit margin,
(2) Asset turnover,
(3) Return on assets,
(4) Debt to equity ratio,
(5) Return on equity. (Round to one decimal place.)

Financial Statements
Financial statements are the standardized formats to present the financial information related to a business or an organization for its users. Financial statements contain the historical information as well as current period’s financial...
Fantastic news! We've Found the answer you've been seeking!

Step by Step Answer:

Related Book For  book-img-for-question

Principles of Accounting

ISBN: 978-1133626985

12th edition

Authors: Belverd E. Needles, Marian Powers and Susan V. Crosson

Question Posted: