Accutune Audio reported the following amounts in its December 31, 2013, and 2012 financial statements.($ millions)20132012Sales revenue$310,000$256,000Cost of sales101,00094,000Net income 10,60012,400Total assets68,50075,200Stockholders’ equity46,40041,500Calculate to the nearest hundredth:Return on sales for 2013Debt-to-total-assets ratio as of December 31, 2013

Ratio analysis means where different ratio of various years of years companies has been compared and…

Answered: Accutune Audio reported the following…

Survey of Accounting (Accounting I)

8th Edition

ISBN:9781305961883

Author:Carl Warren

Publisher:Carl Warren

Chapter9: Metric-analysis Of Financial Statements

Section: Chapter Questions

Problem 9.4.1P: Twenty metrics of liquidity, solvency, and profitability The comparative financial statements of...

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Accutune Audio reported the following amounts in its December 31, 2013, and 2012 financial statements.

($ millions)	2013	2012
Sales revenue	$310,000	$256,000
Cost of sales	101,000	94,000
Net income	10,600	12,400
Total assets	68,500	75,200
Stockholders’ equity	46,400	41,500

Calculate to the nearest hundredth:

Return on sales for 2013
Debt-to-total-assets ratio as of December 31, 2013

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