Peyton Co.’s sales rose 12 percent over prior year sales of $100,000; however, net income increased by only 5 percent over the prior year’s net income. If Peyton’s prior year return on sales ratio was 8 percent, what is the current year return on sales ratio?

Answer rating: 100% (QA)

Prior years return on sales ratio 8 Prior years sales 100000 Current ... View the full answer