Angel Bookstore had Net Income in 2020 of $120,000. Here are some of the financial ratios...

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Angel Bookstore had Net Income in 2020 of $120,000. Here are some of the financial ratios from the annual report. Profit Margin Return on Investment Debt to Asset Ratio 15% 12% 65% Using these ratios, calculate the following for Angel's Bookstore: A) Sales B) Total assets C) Total asset turnover D) Total debt E) Shareholders' equity F) Return on equity Angel Bookstore had Net Income in 2020 of $120,000. Here are some of the financial ratios from the annual report. Profit Margin Return on Investment Debt to Asset Ratio 15% 12% 65% Using these ratios, calculate the following for Angel's Bookstore: A) Sales B) Total assets C) Total asset turnover D) Total debt E) Shareholders' equity F) Return on equity

Answer rating: 100% (QA)

A To calculate sales we need to use the profit margin formulaProfit Margin Net Income Sales15 120000 ... View the full answer