Briggs & Stratton is the worlds largest producer of air-cooled gasoline engines for outdoor power equipment. Its
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Briggs & Stratton is the world’s largest producer of air-cooled gasoline engines for outdoor power equipment. Its 2011 annual report to stockholders included the following data (in millions):
Net income ………………………………….. $ 24,355
Total assets
Beginning of year ………………………….. 1,690,057
End of year …………………………………. 1,666,218
Net income as a percent of total revenue …… 1.15427%
Average stockholders’ equity ……………….. 3.50805%
Using only the data given, compute the
(1) Net income percent of average assets,
(2) Total revenues,
(3) Average stockholders’ equity, and
(4) Asset turnover (using two different approaches).
Asset TurnoverAsset turnover is sales divided by total assets. Important for comparison over time and to other companies of the same industry. This is a standard business ratio.
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Related Book For
Introduction to Management Accounting
ISBN: 978-0133058789
16th edition
Authors: Charles Horngren, Gary Sundem, Jeff Schatzberg, Dave Burgsta
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