< Question 1 of 5 > This quiz: 5 point(s) possible This question: 1 point(s) possible Babino, Inc. had net sales of $51,800,000 for the year ended May 31, 2024. Its beginning and ending total assets were $53,200,000 and $95,800,000, respectively. Determine Babino's asset turnover ratio for year ended May 31, 2024. (Round the asset turnover ratio to two decimal places, X.XX.) Asset turnover ratio C
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- The 2025 Annual Report of Marigold International contains the following information: (in millions) Total assets Total liabilities Net sales Net income (b) June 29, 2025 (c) $1.552 1.091 2,733 150 June 27, 2024 $1.376 1.147 2.845 Compute the following ratios for Marigold International for 2025: 136 Asset turnover ratio. (Round answer to 3 decimal places, e.g. 0.851 times.) Rate of return on assets. (Round answer to 2 decimal places, e.g. 4.87.) Profit margin on sales. (Round answer to 2 decimal places, e.g. 4.87.)Current Attempt in Progress Suppose selected comparative statement data for the giant bookseller Barnes & Noble are as follows. All balance sheet data are as of the end of the fiscal year (in millions). Net sales Cost of goods sold Net income Accounts receivable Inventory Total assets Total common stockholders' equity 2022 $5,050.3 3,700.7 65.1 65.0 1,250.1 2,950.1 940.6 2021 $5,800.9 3,200.1 190.9 106.6 1,350.1 3,250.1 1,100.5Asset turnover Financial statement data for years ending December 31, 2019 and 2018, for Edison Company follow: 2019 2018 Sales $1,491,000 $1,196,000 Total assets: beginning of year 590,000 450,000 end of year 830,000 590,000 a. Determine the asset turnover for 2019 and 2018. Round your answers to one decimal place. 2019 2018 Ratio of sales to assets b. Does the change in the asset turnover from 2018 to 2019 indicate a favorable or an unfavorable trend?
- Select financial statement data for two recent years for Davenport Company are as follows: Line Item Description 20Y5 20Y4 Sales $2,011,500 $1,088,000 Fixed assets: Beginning of year 720,000 640,000 End of year 770,000 720,000 a. Determine the fixed asset turnover ratio for 20Y4 and 20Y5. Round your answers to one decimal place. Line Item Description 20Y5 20Y4 Fixed Asset Turnover Ratio fill in the blank 1 of 2 fill in the blank 2 of 2Financial statement data for the years ending December 31, 20Y3 and 20Y2, for Lawson Company follow: 20Y3 20Y2 Sales $663,000 $516,000 Total assets: Beginning of year 240,000 190,000 End of year 270,000 240,000 a. Determine the asset turnover for 20Y3 and 20Y2. Round your answers to one decimal place. 20Y3 20Y2 Asset turnover fill in the blank 1 fill in the blank 26. Morgan Company reported beginning and ending total assets of $280,000 and $140,000, respectively. Its net sales for the year was $231,000. What was Morgan Company's asset turnover ratio? Begin by selecting the formula to calculate the company's asset turnover ratio. Then enter the amounts and calculate the ratio. (Round the asset turnover ratio to two decimal places, X.XX.) ÷ = Asset turnover ratio
- Brigadoon Consulting bought a building and the land on which it is located for $191,000 cash. The land is estimated to represent 70 percent of the purchase price. The company paid $31,000 for building renovations before it was ready for use. Required: 1. The renovation costs should be capitalized. O False O True 2. Prepare the journal entry to record all expenditures. Assume that all transactions were for cash and they occurred at the start of the year. (If no entry is required for a transaction/event, select "No journal entry required" in the first account field.) View transaction list Journal entry worksheet A Record the expenditures at the start of the year. Note: Enter debits before credits 3. Compute straight-line depreciation on the building at the end of one year, assuming an estimated twelve-year useful life and a $5,500 estimated residual value. Depreciation 4. What should be the book value of the land and building at the end of year 2? Book valueFinancial statement data for years ending December 31, 2019 and 2018, for Latchkey Company follow: 2019 2018 Sales $1,734,000 $1,645,000 Total assets: Beginning of year End of year 480,000 460,000 540,000 480,000 a. Determine the asset turnover for 2019 and 2018. b. Does the change in the asset turnover from 2018 to 2019 indicate a favorable or an unfavorable trend?The 2020 Annual Report of Sheffield International contains the following information. (in millions) Total assets Total liabilities Net sales Net income (a) (b) June 29, 2020 $1,505 (c) 960 2,807 133 Compute the following ratios for Sheffield International for 2020. June 27, 2019 $1,301 1,117 2,934 131 Asset turnover (Round answer to 3 decimal places, e.g. 0.851 times.) Return on assets (Round answer to 2 decimal places, e.g. 4.87%.) Profit margin on sales (Round answer to 2 decimal places, e.g. 4.87%.) times % %
- Return on Assets Ratio and Asset Turnover Ratio Northern Systems reported the following financlal data (in millions) In its annual report: 2018 2019 Net Income $9,050 $7.500 Net Sales 52,350 37,200 Total Assets 58,734 68,128 If the company's total assets are $55,676 in 2017, calculate the company's: (a) return on assets (round answers to one decimal place - ex: 10.79%6) (b) asset turnover for 2018 and 2019 (round answers to two decimal places) 2018 2019 a. Return on Assets Ratio 96 96 b. Asset Turnover Ratio Check O Prevlous Save AnswersAsset turnover A company reports the following: Sales $858,000Average total assets (excluding long-term investments) 572,000Determine the asset turnover ratio. If required, round your answer to one decimal place.fill in the blank 1Use the following selected 2016 balance sheet and income statement information for Home Garden Supply Co. (in millions) to compute asset turnover (AT) to the nearest hundredth of a percent. Net income Gross profit on sales Average total assets Sales Tax rate on operating profit $69,960 $700,400 $360,600 $1,356,504 35% Question 24 options: A) 3.76 B) 5.17 C) 0.27 D) 17.30