The following information is available from the financial statements of Interstate Industries. Compute Interstate’s return on total assets for 2009 and 2010. (Round returns to one-tenth of a percent.) Comment on the company’s efficiency in using its assets in 2009 and 2010.
Answer to relevant QuestionsRefer to Best Buy’s financial statements in Appendix A to answer the following. 1. Using fiscal 2007 as the base year, compute trend percents for fiscal years 2007, 2008, and 2009 for revenues, cost of sales, selling ...Leigh of New York sells its products to customers in the United States and the United Kingdom. On December 16, 2009, Leigh sold merchandise on credit to Berton Ltd. of London at a price of 20,000 pounds. The exchange rate on ...Elevant Co.’s long-term available-for-sale portfolio at December 31, 2010, consists of the following. Elevant enters into the following long-term investment transactions during year 2011. Jan. 29 Sold 3,500 shares of ...Devin Company, which began operations on January 3, 2009, had the following subsequent transactions and events in its long-term investments. 2009 Jan. 5 Devin purchased 25,000 shares (25% of total) of Bloch’s common stock ...GOME (www.GOME.com.hk), Best Buy, and RadioShack are competitors in the global marketplace. Following are selected data from each company. Required 1. Compute GOME’s return on total assets, and its components of profit ...
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