Peytons Palace has net income of $15 million on sales revenue of $130 million. Total assets were
Question:
Peyton’s Palace has net income of $15 million on sales revenue of $130 million. Total assets were $96 million at the beginning of the year and $104 million at the end of the year. Calculate Peyton’s return on assets, profit margin, and asset turnover ratios.
Asset turnover is sales divided by total assets. Important for comparison over time and to other companies of the same industry. This is a standard business ratio.
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Return on assets 15 96 ...View the full answer
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Related Book For 
Financial Accounting
ISBN: 978-0078025549
3rd edition
Authors: J. David Spiceland, Wayne Thomas, Don Herrmann
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