Gildan Activewear Inc. reported the following selected financial information (all in U.S. $ millions): sales of $2,909 in 2018, $2,751 in 2017, and $2,585 in 2016. The company also reported net income of $351 in 2018, $362 in 2017, and $347 in 2016. Assets at the end of 2018 were $3,005; at the end of 2017, $2,981; and at the end of 2016, $2,990. Calculate Gildan's (1) asset turnover, (2) profit margin, and (3) return on assets for 2018 and 2017. (Round answers to 1 decimal place, e.g. 5.2.)

Gildan Activewear Inc. reported the following selected financial information (all in U.S. $ millions): sales of $2,909 in 2018, $2,751 in 2017, and $2,585 in 2016. The company also reported net income of $351 in 2018, $362 in 2017, and $347 in 2016. Assets at the end of 2018 were $3,005; at the end of 2017, $2,981; and at the end of 2016, $2,990. Calculate Gildan's (1) asset turnover, (2) profit margin, and (3) return on assets for 2018 and 2017. (Round answers to 1 decimal place, e.g. 5.2.)

Name: Gildan Activewear Inc. reported the following selected financial info
Uploaded: 2024-03-05T11:47:04.000Z
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Description: Gildan Activewear Inc. reported the following selected financial information (all in U.S. $ millions):sales of $2,909 in 2018, $2,751 in 2017, and $2,585 in 2016. The company also reported net incomeof $351 in 2018, $362 in 2017, and $347 in 2016. A

Financial Accounting

14th Edition

ISBN:9781305088436

Author:Carl Warren, Jim Reeve, Jonathan Duchac

Publisher:Carl Warren, Jim Reeve, Jonathan Duchac

Chapter15: Investments And Fair Value Accounting

Section: Chapter Questions

Problem 18E

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