Question

The 2013 income statement for Anderson TV and Appliance reported sales revenue of $420,000 and net income of $65,000. Average total assets for 2013 was $800,000. Shareholders’ equity at the beginning of the year was $500,000 and $20,000 was paid to shareholders as dividends. There were no other shareholders’ equity transactions that occurred during the year. Calculate the profit margin on sales, return on assets, and return on shareholders’ equity for 2013.



$1.99
Sales0
Views113
Comments0
  • CreatedDecember 23, 2013
  • Files Included
Post your question
5000