Question

The following is selected data for Richardson Equipment, Inc., for the current year:
Sales...................................................................... $821,000
Net income............................................................. 63,000
Total current assets, beginning.............................. 103,000
Total, current assets, ending.................................. 122,000
Property, plant and equipment, beginning ............. 305,000
Property, plant and equipment, ending .................. 314,000
Total assets, beginning .......................................... 408,000
Total assets, ending ............................................... 436,000


Requirement
1. Calculate the return on assets (ROA) and the fixed asset turnover ratio for Richardson Equipment for the current year. Round your answers to two decimal places.



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  • CreatedApril 29, 2014
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