Selected comparative statement data for Bluesky Company are presented below. All balance sheet data are as at

Question:

Selected comparative statement data for Bluesky Company are presented below. All balance sheet data are as at December 31.

Calculate for 2017 the following:
(a) Asset turnover,
(b) Return on assets,
(c) Return on equity.

Balance Sheet
Balance sheet is a statement of the financial position of a business that list all the assets, liabilities, and owner’s equity and shareholder’s equity at a particular point of time. A balance sheet is also called as a “statement of financial...