Q A B and C please Exercise n°3.Gil Corporation has current assets of $90,000 and current liabilities of$180,000.Required:The following table gives abbreviated balance sheets and incomestatements for Walmart. Balance Sheet (figures in $ millions)End of Year Start of YearAssetsCurrent assets:$ 6,7565,61443,7833,511$ 59,664$ 6,8675,83543,0461,941$ 57,689Cash and marketable securitiesAccounts receivableInventoriesOther current assetsTotal current assetsFixed assets:$ 114,818 $ 114,17830,040$ 204,522 $ 198,825Net fixed assetsOther long-term assets26,958Total assetsLiabilities and Shareholders' EquityCurrent liabilities:$ 41,43325,495$ 66,92842,01812,081$ 126,653 $ 121,02777,798Total liabilities and shareholders' equity $ 204,522 $ 198,825$ 46,09232,429$ 78,52136,82511,307Accounts payableOther current liabilitiesTotal current liabilitiesLong-term debtOther long-term liabilitiesTotal liabilitiesTotal shareholders' equity77,869Income Statement (figures in $ millions)$ 500,343 $ 485,873373,39695,98110,529$ 20,4372,178$ 18,2594,600$ 13,6596,124$ 7,535Net sales361,25691,77310,080$ 22,7642,267$ 20,4977,174$ 13,3236,695$ 6,628Cost of goods soldSelling, general, and administrative expensesDepreciationEarnings before interest and taxes (EBIT)Interest expenseTaxable incomeТахNet incomeDividendsAddition to retained earningsAssume a tax rate of 35%. Calculate the following using balance-sheetfigures from the start of the year and Income statement figures fromthe end of the year:a) Calculate the return on assets. (Enter your answer as a percentrounded to 2 decimal places.)b) Calculate the operating profit margin. (Enter your answer as apercent rounded to 2 decimal places.)c) Calculate the sales-to-assets ratio. (Round your answer to 2decimal places.)

Return on Assets is one of the method for determining the profitability of a company. This ratio…

a) Calculate the return on assets. (Enter your answer as a percent rounded to 2 decimal places.) b) Calculate the operating profit margin. (Enter your answer as a percent rounded to 2 decimal places.) c) Calculate the sales-to-assets ratio. (Round your answer to 2 decimal places.)

a) Calculate the return on assets. (Enter your answer as a percent rounded to 2 decimal places.) b) Calculate the operating profit margin. (Enter your answer as a percent rounded to 2 decimal places.) c) Calculate the sales-to-assets ratio. (Round your answer to 2 decimal places.)

Survey of Accounting (Accounting I)

8th Edition

ISBN:9781305961883

Author:Carl Warren

Publisher:Carl Warren

Chapter1: The Role Of Accounting In Business

Section: Chapter Questions

Problem 1.4.3MBA: Return on assets The following data (in millions) were adapted from recent financial statements of...

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