If sales for the year for the Genco Olive Oil Company is $296,024, net income for the year is $22,965, and average assets during the year is $163,628, then calculate the ROA for the year

Q: During the current year, Sokowski Manufacturing earned income of $360,000 from total sales of…

A: Sales margin formula = Income earned/Total sales = $360,000 /$6,000,000

Q: In its 2017 annual report, Crane Manufacturing Company reports beginning-of-the-year total assets of…

A: Asset turnover ratio is calculated by dividing the net sales by the average assets.

Q: During the current year, Sokowski Manufacturing earned income of $446,500 from total sales of…

A: Please find the answer to the above question below:

Q: For the year ended December 31, Southern Supply had net sales of $3,875,000, costs and other…

A: Since multiple questions are posted, as per guidelines only the first question is answered…

Q: Ash Company reported sales of $440,000 for Year 1, $490,000 for Year 2, and $540,000 for Year 3.…

A: Trend percent = Current Years Sales/Previous Year Sales x 100

Q: In recent year Palestine Corporation had a net income of $12,500, interest expense of $2,500, and a…

A: Given: Net income = $12,500 Interest expense = $2,500 Times interest earned = 9

Q: The most recent financial statements for summer tyme, inc, are shown here: income statement: sales…

A: Formulas:

Q: During the current year, Sokowski Manufacturing earned income of $786,500 from total sales of…

A: Please find the answer to the above question below:

Q: A company reported a sale revenue for $700,000. The gross profit margin is 60% and the selling…

A: Definition: Net income: Net income is the excess amount of revenue that arises after deducting all…

Q: During the current year, Sokowski Manufacturing earned income of $422,100 from total sales of…

A: Sales margin is the amount that is generated by the sale of product or services. It is calculated by…

Q: Common-Sized Income Statement Revenue and expense data for the current calendar year for Tannenhill…

A:

Q: In its 2017 annual report, Crane Manufacturing Company reports beginning-of-the-year total assets of…

A: Profit margin on sales = (Net income / Total sales) x 100

Q: Jones Company had net income of $10,000 for the year. Beginning total assets were $150,000 and…

A: Lets understand the basics. Return on asset is a ratio which indicates that how much profitability…

Q: Wexler, Inc.’s income statement showed total expenses for the year to be $50,000. If the com-pany’s…

A: Net income: It refers to the excess of a company's sales revenue over its operating expenses and…

Q: The income statement for Forklift Electrical Ltd for two years are shown below:   Forklift…

A: Solution : 1.(d)

Q: The income statements for Finac Company for the two years are as follows: Year 2 Year 1 Sales…

A: Common size income statements represent the line items of income statement as a percentage of sales.…

Q: At the end of the year, Universal Utilities (UU) had $1.5 million in total assets.  Its total assets…

A: Total Assets are $1.5 million ROA was 7.14% Total Assets turover is 1.4   To Find: Sales Revenue…

Q: The income statements for Finac Company for the two years are as follows: Year 2 Year 1 Sales…

A: Common size income statements means where sale is taken as 100 percent of every year and all other…

Q: During the current year, Sokowski Manufacturing earned income of $327,600 from total sales of…

A: Sales margin means profit earned from the revenue generated from the sale of the goods or services.…

Q: The balance sheet of Hidden Valley Farms reports total assets of $450,000 and $550,000 at the…

A: The return on assets is calculated as net income divided by average total assets.

Q: LMM Company’s total assets at the end of last year were P405,000 and its earnings before interest…

A: Total assets = P405,000 EBIT = P52,500

Q: For the past year, Momsen, Ltd., had sales of $46,577, interest expense of $3,932, cost of goods…

A: “Statement of Profit & Loss” is a financial tool which shows profitability of business. It shows…

Q: Lions Corp's sales last year were $27,000, and its total assets were $16,000.  What was its total…

A: Total Asset Turnover Ratio = Total Sales/ Average Assets

Q: Ramala Corp's sales last year were $48,000, and its total assets were $25,500. What was its total…

A: A ratio that provides information regarding the efficient use of a company’s total asset is term as…

Q: The income statement account balamnces for the year ended Dec. 31 shows the following: Net Sales…

A: Formula: Gross profit = Net sales - Cost of goods sold

Q: The income statement for Forklift Electrical Ltd for two years are shown below:   Forklift…

A: Income statement of a firm presents the revenue income and expenses related to the reported period.…

Q: At year-end, Schultz, Inc. has cash of $11,600, current accounts receivable of $48,900, merchandise…

A: Acid test ratio or quick ratio is computed by dividing quick assets by current liabilities. Quick…

Q: In 2018, Martinez Corporation reported net sales of $232,900, cost of goods sold of $139,700,…

A: Given the following information: Year 2018 Net sales: $232,900 Cost of goods sold: $139,700…

Q: An analysis of the transactions of Rutherford Company for the year ended December 31, yieldsthe…

A: A single-step income statement provides a quick overview of a business's revenue and expenses. The…

Q: For the past year, Momsen Limited had sales of $45,017, interest expense of $3,308, cost of goods…

A: Net income is overall profit received by the company after providing the operating expenses and the…

Q: For the past year, Momsen, Ltd., had sales of $44,042, interest expense of $2,918, cost of goods…

A: Sales of $44,042 Interest Expense is $2,918 Selling and admin. Expense is $10,626 Depriciation isn…

Q: During the current year, Sokowski Manufacturing earned income of $270,000 from total sales of…

A: Sales margin Formula = Income earned/Total sales

Q: During the past year, the company’s financial results reflected the following: Selling, general,…

A: Gross profits refers to the difference of sales and direct costs associated with production.

Q: The revenue is $40,000, the cost of goods sold is $26,000, the selling, general and administrative…

A: Earnings before tax(EBT) measures a companies profitability before income taxes are factored.

Q: During the current year, Sokowski Manufacturing earned income of $346,500 from total sales of…

A: Please find the answer to the above question below:

Q: During the current year, Sokowski Manufacturing earned income of $206,500 from total sales of…

A: Asset turnover = Sales / Average capital assets ROI = Margin * Turnover

Q: In its 2014 annual report, Campbell Soup Company reports beginning-of-the-year total assets of…

A:

Q: Barry's BBQ had sales revenue for the year of $450 million and net income of $75 million. Total…

A: The financial ratios can be calculated with the given data

Q: River Corp's total assets at the end of last year were $405,000 and its net income was $32,750. What…

A: The return on total assets is calculated as ratio of net income and total assets

Q: Suppose in its income statement for the year ended June 30, 2022, The Clorox Company reported the…

A: Gross Profit Ratio = Gross Profit/Net Sales Profit Margin = Net Profit/ Net Sales

Q: Chou Company has a net income of $52,000, assets at the beginning of the year are $259,000 and…

A: Return on assets indicates profitability rate on the bases of assets. It can be calculated by…

Q: During the current year, Sokowski Manufacturing earned income of $396,900 from total sales of…

A: Formula: Sales margin = Earned income / Total sales.

Q: In a recent year Ley Corporation had net income of $150,000, interest expense of $30,000, and a…

A: Net income: The net income of the business is determined by subtracting the total expenses from the…

Q: For the past year, Kayla, Inc., has sales of $46,382, interest expense of $3,854, cost of goods sold…

A: Given:

Q: Kristyle Company's net income last year was P40,000 and its interest expense was P8,000. Total…

A: Return on assets (ROA) refers to the evaluation of the profitability of the assets of a company.

Q: National Company's net income last year was P65,000 and its interest expense was P15,000. Total…

A: The return on total assets is calculated as net income divided by average total assets.