1answer.
Ask question
Login Signup
Ask question
All categories
  • English
  • Mathematics
  • Social Studies
  • Business
  • History
  • Health
  • Geography
  • Biology
  • Physics
  • Chemistry
  • Computers and Technology
  • Arts
  • World Languages
  • Spanish
  • French
  • German
  • Advanced Placement (AP)
  • SAT
  • Medicine
  • Law
  • Engineering
navik [9.2K]
3 years ago
11

Refer to the following selected financial information from Shakley's Incorporated. Compute the company's return on total assets

for Year 2. Year 2 Year 1 Net sales $ 478,500 $ 426,250 Cost of goods sold 276,300 250,120 Interest expense 9,700 10,700 Net income before tax 67,250 52,680 Net income after tax 46,050 39,900 Total assets 317,100 288,000 Total liabilities 181,400 167,300 Total equity 135,700 120,700
Business
1 answer:
hammer [34]3 years ago
7 0

Answer:

15.2%

Explanation:

Return on Total Asset is the ratio of net income ratio to total asset of the company. It measure the productivity and efficiency of all the assets used to generate this net income.

As per given Data

                                        Year 2         Year 1

Net sales                      $478,500     $426,250

Cost of goods sold      $276,300     $250,120

Interest expense          $9,700         $10,700

Net income before tax $67,250      $52,680

Net income after tax    $46,050      $39,900

Total assets                  $317,100      $288,000

Total liabilities              $181,400      $167,300

Total equity                  $135,700     $120,700

Formula for Return on total assets

Return on Total Assets = ( Net income / Average total assets ) x 100

Now we need to calculate the average Assets

Average Assets = ($317,100 + $288,000) / 2 = $302,550

Net Income for year 2  = $46,050

Placing values in the formula

Return on Total Assets = ( $46,050 / $302,550 ) x 100

Return on Total Assets = 15.2%

You might be interested in
For a plaintiff to establish that he or she has standing to sue, the plaintiff must allege ________.
Bad White [126]

For a plaintiff to establish that he or she has the standing to sue, the plaintiff must allege a personal stake in the resolution of the controversy.

<h3>Who is a Plaintiff?</h3>

A plaintiff is an individual or group who initiates a lawsuit in a court of law. The plaintiff by doing so seeks justice and a legal remedy for that particular problem.

When a plaintiff seeks to establish that he or she has a legal standing to sue, he must allege a personal stake in the resolution of the controversy. That way, he would properly establish the fact.

Learn more about a Plaintiff here:

brainly.com/question/7315287

5 0
2 years ago
an organization founded by businesses in a specific in a specific industry for the purpose of collaborating within the industry
olga nikolaevna [1]
The answer to the question that is being presented aboev would be an association. An organization founded by businesses in a specific industry for the purpose of collaborating within the industry and advocating for theirworkers is called an association. 
6 0
3 years ago
What are examples of short-term goals? Check all that apply.
Zolol [24]

Answer:

the right answer is Aden wants to get a summer job during his school vacation.

Explanation:

short-term goals are those that are aimed at meeting monthly

6 0
3 years ago
Read 2 more answers
Pure monopoly refers to_____. rev: 05_15_2018 Multiple Choice
alisha [4.7K]

Answer:

The correct answer is option c.

Explanation:

Pure monopoly refers to a market where there is a single producer selling a product with no close substitutes. Such type of market is very rare.  

There is restriction on entry and exit of firms in the market. The firm operating in this market is a price maker and faces a downward-sloping demand curve.  

No close substitutes, single seller and barriers to entry are essential conditions for a pure monopoly to exist.

5 0
3 years ago
Sally Company manufactures large kitchen appliances. For the first year of purchase, the company will repair any manufacturing d
zzz [600]

Answer:

warranty

Explanation:

A warranty is a guarantee from a seller to  buyer promising to if necessary repair or replace the purchased item with a stated period.

8 0
3 years ago
Other questions:
  • A seller tells a real estate professional "don’t show my house to anybody not born in the United States." In this circumstance,
    6·1 answer
  • Marigold Company owns equipment that cost $936,000 and has accumulated depreciation of $395,200. The expected future net cash fl
    11·1 answer
  • A journal entry for a $75 payment for Rent expense was posted as a debit to Salary expense and a credit to Cash. This error will
    5·1 answer
  • When figuring out the total amount of debt you are responsible for, you should include
    14·1 answer
  • In its 2016 annual report, Caterpillar Inc. reported the following (in millions): 2016 2015 Sales $38,537 $47,011 Cost of goods
    13·1 answer
  • Select the correct version of each pair of the following sentences. Local markets have become saturated; therefore, companies no
    5·2 answers
  • The following additional details are provided for the​ year: Direct materials placed in production $ 81 comma 500 Direct labor i
    8·1 answer
  • Consider the following information about a simple country that produces two different goods: Year PriceMilk QuantityMilk Price C
    11·1 answer
  • According to the Marketing Concept, a. Companies produce only what customers want. b. A company should produce only basic produc
    9·1 answer
  • Looking at her report, jennifer realizes that her bank raised the rate on her last balance. Which federal legislation can she re
    7·1 answer
Add answer
Login
Not registered? Fast signup
Signup
Login Signup
Ask question!