Question: help me find ROA please. the answer is not 9.14%. I am dividing NI/ avg total Assets. but cant get the correvt answer. please help




Sandhill Medical manufactures hospital beds and other institutional furniture. The company's comparative balance sheet and income: statement for 2019 and 2020 follow. Total assets $11,263,825$10,561,980 Liabilities and Stockholders' Equity Current liabilities Long-term debt Total liabilities Preferred stock, $5 par value Common stock, $0.25 par value \begin{tabular}{rr} $3,203,000 & $2,846,100 \\ \hline 3,702,700 & 3,892,700 \\ \hline 6,905,700 & 6,738,800 \\ \hline 58,900 & 58,900 \\ 104,600 & 103,800 \end{tabular} Retained earnings Total stockholders' equity Total liabilities and stockholders' equity \begin{tabular}{rr} 4,358,1254,194,6253,823,1803,660,480 \\ \hline$11,263,825 & $10,561,980 \\ \hline \end{tabular} Sandhill Medical Comparative Income Statement and Statement of Retainet Earnings \&s Calculate the following profitability ratios for 2020 . (Round answers to 1 decimal place, e.g. 50.1\%.) Calculate the following profitability ratios for 2020 . (Round answers to 1 decimal place, e.g. 50.1\%.) % a. Gross margin percentage b. Return on assets % c. Return on common stockholders' equity %
Step by Step Solution
There are 3 Steps involved in it
Get step-by-step solutions from verified subject matter experts
