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Torrid Romance Publishers has total receivables of $2,300.00, which represents 24.00 days’ sales. Total assets are $7,197.36. The firm’s operating profit margin is 4.53%. Find the firm’s asset turnover ratio and ROA. (Use 365 days in a year. Do not round intermediate calculations. Round your answers to 2 decimal places.)         Asset turnover ratio          ROA  %

Torrid Romance Publishers has total receivables of $2,300.00, which represents 24.00 days’ sales. Total assets are $7,197.36. The firm’s operating profit margin is 4.53%. Find the firm’s asset turnover ratio and ROA. (Use 365 days in a year. Do not round intermediate calculations. Round your answers to 2 decimal places.)         Asset turnover ratio          ROA  %

Managerial Accounting: The Cornerstone of Business Decision-Making
Managerial Accounting: The Cornerstone of Business Decision-Making
7th Edition
ISBN:9781337115773
Author:Maryanne M. Mowen, Don R. Hansen, Dan L. Heitger
Publisher:Maryanne M. Mowen, Don R. Hansen, Dan L. Heitger
Chapter15: Financial Statement Analysis
Section: Chapter Questions
Problem 56P: The following selected information is taken from the financial statements of Arnn Company for its...
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Torrid Romance Publishers has total receivables of $2,300.00, which represents 24.00 days’ sales. Total assets are $7,197.36. The firm’s operating profit margin is 4.53%. Find the firm’s asset turnover ratio and ROA. (Use 365 days in a year. Do not round intermediate calculations. Round your answers to 2 decimal places.)


 

   
  Asset turnover ratio       
  ROA  %  
 
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