The following is selected data for Patina Industries: Requirements 1. Calculate the return on assets (ROA) and
Question:
The following is selected data for Patina Industries:
Requirements
1. Calculate the return on assets (ROA) and the fixed asset turnover ratio for Patina Industries for 2015 and 2016. Round your answers to two decimal places.
2. Have the ratios improved or deteriorated? Comment on the trend in both ratios?
Asset turnover is sales divided by total assets. Important for comparison over time and to other companies of the same industry. This is a standard business ratio.
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