Return on Assets Ratio and Asset Turnover Ratio Campo Systems reported the following financial data (in millions) in its annual report: Previous Year Current Year Net Income $11,052 $9,134 Net Sales 69,540 66,117 Total Assets 88,734 98,128 If the company's total assets are $85,676 at the beginning of the previous year, calculate the company’s: (a) return on assets (round to one decimal point) (b) asset turnover for both years (round to two decimal points) Previous Year Current Year a. Return on Assets Ratio Answer Answer b. Asset Turnover Ratio Answer Answer PreviousSave AnswersNext
Return on Assets Ratio and Asset Turnover Ratio Campo Systems reported the following financial data (in millions) in its annual report: Previous Year Current Year Net Income $11,052 $9,134 Net Sales 69,540 66,117 Total Assets 88,734 98,128 If the company's total assets are $85,676 at the beginning of the previous year, calculate the company’s: (a) return on assets (round to one decimal point) (b) asset turnover for both years (round to two decimal points) Previous Year Current Year a. Return on Assets Ratio Answer Answer b. Asset Turnover Ratio Answer Answer PreviousSave AnswersNext
Corporate Financial Accounting
14th Edition
ISBN:9781305653535
Author:Carl Warren, James M. Reeve, Jonathan Duchac
Publisher:Carl Warren, James M. Reeve, Jonathan Duchac
Chapter5: Accounting For Merchandising Businesses
Section: Chapter Questions
Problem 5.2ADM: Home Depot: Asset turnover ratio The Home Depot reported the following data (in millions) in its...
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Return on Assets Ratio and Asset Turnover Ratio
Campo Systems reported the following financial data (in millions) in its annual report:
| Previous Year | Current Year | |
|---|---|---|
| Net Income | $11,052 | $9,134 |
| Net Sales | 69,540 | 66,117 |
| Total Assets | 88,734 | 98,128 |
If the company's total assets are $85,676 at the beginning of the previous year, calculate the company’s:
(a) return on assets (round to one decimal point)
(b) asset turnover for both years (round to two decimal points)
| Previous Year | Current Year | ||
|---|---|---|---|
| a. | Return on Assets Ratio | Answer | Answer |
| b. | Asset Turnover Ratio | Answer | Answer |
PreviousSave AnswersNext
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