Question: Selected comparative statement data for the giant bookseller Speedway Inc. are presented here. All statement of financial position data are as of the end of
Selected comparative statement data for the giant bookseller Speedway Inc. are presented here. All statement of financial position data are as of the end of the fiscal year (in millions).
| 2022 | 2021 | ||||
| Sales | $ 5,307.0 | $ 5,153.0 | |||
| Cost of goods sold | 3,617.0 | 3,556.0 | |||
| Net income | 151.1 | 147.3 | |||
| Dividends paid on common shares | 32.3 | 29.4 | |||
| Dividends paid on preferred shares | 15.7 | 14.6 | |||
| Accounts receivable | 101.3 | 98.4 | |||
| Inventory | 1,367.0 | 1,304.0 | |||
| Total assets | 3,187.0 | 3,167.0 | |||
| Total common shareholders' equity | 1,175.0 | 1,123.0 |
Calculate the following ratios for 2022: (Round answers to 1 decimal place, e.g. 5.2% or 5.2.)
| (a) | Profit margin | % | ||||
| (b) | Asset turnover | times | ||||
| (c) | Return on assets | % | ||||
| (d) | Return on common shareholders' equity | % | ||||
| (e) | Gross profit margin | % |
Save for Later
Step by Step Solution
There are 3 Steps involved in it
1 Expert Approved Answer
Step: 1 Unlock
Question Has Been Solved by an Expert!
Get step-by-step solutions from verified subject matter experts
Step: 2 Unlock
Step: 3 Unlock
