The following information is provided for Nguyen Company and Northwest Corporation. (in $ millions) Nguyen Company Northwest
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Question:
The following information is provided for Nguyen Company and Northwest Corporation.
(in $ millions) | Nguyen Company | Northwest Corporation | |||
---|---|---|---|---|---|
Net income 2022 | $165 | $420 | |||
Net sales 2022 | 1,650 | 4,900 | |||
Total assets 12/31/20 | 1,000 | 2,400 | |||
Total assets 12/31/21 | 1,050 | 3,000 | |||
Total assets 12/31/22 | 1,150 | 4,000 |
If Nguyen and Northwest are in the same industry and the industry average for asset turnover is equal to 1.20 times, which of the following statements is true?
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