Question: Problem 1-3 (Static) Consider the following financial data from the past year for Midwest Outdoor Equipment Corporation. Annual sales $24,324,000 Net income 2,975,000 Cost of

Problem 1-3 (Static) Consider the following financial data from the past year for Midwest Outdoor Equipment Corporation. Annual sales $24,324,000 Net income 2,975,000 Cost of goods sold 12,600,000 Total assets 10,550,000 Inventory 2,375,000 Receivables 3,445,000 a. Compute the prot margin. Note: Round your answer to 3 decimal places. Prot margin I I b. Compute the asset turnover ratio. Note: Round your answer to 3 decimal places. Asset turnover ratio I I c. Compute the return on assets ratio. Note: Round your answer to 3 decimal places. Return on assets ratio

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