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
Alex
3 years ago
9

Sheridan Company reports the following information (in millions) during a recent year: net sales, $17,371.2; net earnings, $481.

6; total assets, ending, $6,899.2; and total assets, beginning, $6,806.4. Calculate the (1) return on assets, (2) asset turnover, and (3) profit margin ratios. (Round answers to 1 decimal place, e.g. 15.2% or 15.1.)
Business
1 answer:
jeka57 [31]3 years ago
8 0

Answer and Explanation:

The computation is shown below:

As we know that

1. Return on assets is

= Net income ÷ avg total assets

where,

Avg total assets is

= (opening total assets + closing total assets) ÷ 2

= ($6,806.4 + $6,899.2) ÷ 2

= $6,852.8

Now return on asset is

= $481.6 ÷ $6,852.8

= 7.0%

2.  Assets turnover ratio = net sales ÷ avg total assets

= $17,371.2 ÷ $6,852.8

= 2.5 times

3.  Profit margin = net income ÷net sales

= $481.6 ÷ $17,371.2

= 2.8%

You might be interested in
Can I Plss get some help on this thank you
krek1111 [17]

Answer:

the United state has a comparative advantage in producing coal

6 0
1 year ago
Symbic Foods, a chain of fast food restaurants, has included a drop-down menu on its main Web site. With this drop-down menu, pe
Makovka662 [10]

Answer: Marketing Strategy

Explanation: Marketing strategies are additional benefit a business owner creates in its business to make it different from others in the same industry and to make prospective clients permanent customers.

Marketing strategies gives the business a better edge in its industry as it gives the business better sales.

5 0
2 years ago
Describe a product, and then give an example of a time when the demand for this product night be high and the demand for this pr
Yakvenalex [24]
Icecream, the demand for icecream increases as the temprature becomes hotter but decreases as the temprature cools down
7 0
3 years ago
1. Should you have a separate checking and saving account?
iris [78.8K]

Back when interest rates were high, I had just one account. I had a money-market checking account that offered good interest rates and unlimited check writing. But those days are long gone.

I want as high an interest rate as I can get for my savings. In order to get those rates, I am using a money-market savings account. All such accounts I’ve seen restrict the number of transactions I can make in a month. I need to be able to pay bills, no matter how many of them there are — and I never ever want to pay fees for excess transactions!

So I have a separate checking account. It pays less than half the interest rate of my savings account, but I can make as many transactions as I want. The bank offers a bill pay application that I use for most payments, and I can write as many checks as I want to. I can transfer money between the accounts quickly.

5 0
2 years ago
Although you may not have received the e-mail we have been informed that the division head of the Finance Department is leaving
Orlov [11]

Answer:

B.

Explanation:

The sentence is too long and it is missing proper punctuations(like a comma). Reading it without punctuation does not provide room for breathing and therefore needs editing. It will be correct if framed like this; Although you may not have received the e-mail, we have been informed that the division head of the Finance Department is leaving at the end of the month. This sentence has a comma in the right place.

8 0
3 years ago
Other questions:
  • Matt has $471.60 in his checking account and feels he's doing pretty well financially.Then his car stops running. His mechanic i
    10·1 answer
  • company used straight-line depreciation for an item of equipment that cost $20,300, had a salvage value of $5,600 and a six-year
    13·1 answer
  • When one nation can produce a product at lower cost relative to another nation, it is said to have a(n) __________________ in pr
    10·1 answer
  • Barbara's Bakery purchased appliances (7 year property) in quarter 4 of Year 1. The original cost of the appliances was $40,000
    11·1 answer
  • Suppose the market price of corn is​ $5 a bushel but the government sets a price of​ $7. As a​ result_______________--
    11·1 answer
  • When MyGym management began evaluating overseas market​ expansion, it first looked at countries in which English was fairly comm
    12·1 answer
  • International marketing can be defined as
    13·1 answer
  • The balance sheet is a financial statement that measures the flow of funds into and out of various accounts over time, whereas t
    15·1 answer
  • Broker Janet just finished a direct e-mailing campaign. How should Janet follow-up on direct e-mail advertising?
    12·1 answer
  • In which stage of the product life cycle will promotional expenditures be especially high in an attempt to create consumer aware
    9·1 answer
Add answer
Login
Not registered? Fast signup
Signup
Login Signup
Ask question!