Varsity Inc s comparative income statement follows The 2015 data are
Varsity, Inc.’s comparative income statement follows. The 2015 data are given as needed.
Requirements
1. Calculate the profit margin ratio for 2017 and 2016.
2. Calculate the rate of return on total assets for 2017 and 2016.
3. Calculate the asset turnover ratio for 2017 and 2016.
4. Calculate the rate of return on common stockholders’ equity for 2017 and 2016.
5. Calculate the earnings per share for 2017 and 2016.
6. Calculate the 2017 dividend payout on common stock. Assume dividends per share for common stock are equal to $ 0.75 per share.
7. Did the company’s operating performance improve or deteriorate during 2017?
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