Question: 2. a) Elegant Style Hijab stores can open a new store with an annual sales volume of AED 47,900 . It will turn over its

2. a) Elegant Style Hijab stores can open a new store with an annual sales volume of AED 47,900 . It will turn over its assets 1.75 times per year. The profit margin on sales will be 6.25 percent. What would net income and return on assets (investment) be for the year? [ 2 Marks ] TotalAssets=47,900/1.75 =27371.43 Net income =479006.25%=2993.75 ROA=2993.75/27371.43=0.10937or10.94%

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