The following information is provided for Canadian Industries Inc. for the year 2015 along with industry averages:
Question:
Net sales for 2015 amounted to $75,000 and net income was $25,000.
Requirements
1. Calculate the assets turnover ratio and the long-term assets turnover ratio.
2. Calculate return on assets and return on long-term assets.
Transcribed Image Text:
December 31 2014 $25,000 2015 Current Assets. $30,000 Long-Term Assets. *....*** $70,000 $73,000
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Req 1 t r s A total a t r 750002500073000 30000700002 076 t ...View the full answer
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Related Book For
Financial Accounting
ISBN: 978-0133375534
2nd Canadian edition
Authors: Jeffrey Waybright, Robert Kemp, Sherif Elbarrad
Question Posted:
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