For the year ended December 31, 2019, Settles Inc. earned an ROI of 12.6%. Sales for the
Question:
For the year ended December 31, 2019, Settles Inc. earned an ROI of 12.6%. Sales for the year were $120 million, and average asset turnover was 2.8. Average stockholders’ equity was $25 million.
Required:
a. Calculate Settles Inc.’s margin and net income.
b. Calculate Settles Inc.’s return on equity.
Asset TurnoverAsset 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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a 126 ROI 28 Turnover 45 mar...View the full answer
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