Question

The income statement for Stretch-Tape Corporation reports net sales of $540,000 and net income of $65,700. Average total assets for the year are $900,000.
Stockholders’ equity at the beginning of the year was $600,000, and $30,000 was paid to stockholders as dividends during the year. There were no other stockholders’ equity transactions that occurred during the year.

Required:
Calculate the return on assets, profit margin, asset turnover, and return on equity ratios.



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  • CreatedJuly 15, 2014
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