The following information is provided for Interlink Industries Inc. for the year 2015 along with industry averages:

Question:

The following information is provided for Interlink Industries Inc. for the year 2015 along with industry averages:
December 31 2015 2014 Current Assets. Long-Term Assets. $60,000 $140,000 $50,000 $146,000

Net sales for 2015 amounted to $150,000 and net income was $50,000.
Requirements
1. Calculate the assets turnover ratio and the long-term assets turnover ratio.
2. Calculate return on assets and return on long-term assets.

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Related Book For  book-img-for-question

Financial Accounting

ISBN: 978-0133375534

2nd Canadian edition

Authors: Jeffrey Waybright, Robert Kemp, Sherif Elbarrad

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