Question: PROBLEMS Additional homework problems are available at www. pearsonhighered.com/bozarth These problems use Excel to generate customized problems for different class sections or even different students.

PROBLEMS

Additional homework problems are available at www. pearsonhighered.com/bozarth These problems use Excel to generate customized problems for different class sections or even different students.

(*= easy; ** = moderate; *** advanced)

Dulaney's Stores has posted the following yearly earnings and expenses:

EARNINGS AND EXPENSES (YEAR ENDING JANUARY 2012)

Sales $50,000,000

Cost of goods sold (COGS) $30,000,000

Pretax earnings $ 5,000,000

SELECTED BALANCE SHEET ITEMS

Merchandise Inventory $2,500,000

Total assets $8,000,000

1. (*) What is Dulaney's current profit margin? What is itscurrent yearly ROA?

2. (**) Suppose COGS and merchandise inventory were each cut by 10%. What would be the new pretax profit margin and ROA?

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