In an effort to analyze Clockwork Company finances, Jim realized that he was missing the company's net
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Question:
In an effort to analyze Clockwork Company finances, Jim realized that he was missing the company's net profits after taxes for the current year. Find the company's net profits after taxes using the following information.(Show all calculations for fullcredit.)
Return on total assets = 2%
Total asset turnover = 0.5
Cost of goods sold = $105,000
Gross profit margin = 0.30
Expert Answer:
To find the companys net profits after taxes well need to use the return on total assets ROA formula ... View the full answer
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