Question: Selected comparative statement data for Tyrone Company are presented below. All balance sheet data are as of December 31. 2020 2019 Net sales $1,160,000 $1,131,000
Selected comparative statement data for Tyrone Company are presented below. All balance sheet data are as of December 31.
| 2020 | 2019 | |||
| Net sales | $1,160,000 | $1,131,000 | ||
| Cost of goods sold | 686,000 | 639,000 | ||
| Interest expense | 15,000 | 10,000 | ||
| Net income | 150,800 | 140,000 | ||
| Accounts receivable | 141,000 | 117,000 | ||
| Inventory | 99,000 | 94,000 | ||
| Total assets | 760,000 | 690,000 | ||
| Preferred stock (6%) | 201,000 | 201,000 | ||
| Total stockholders equity | 618,000 | 529,000 |
1. Compute the profit margin for 2020. (Round answer to 1 decimal place, e.g. 15.2%.) 2. Compute the asset turnover for 2020. (Round answer to 1 decimal place, e.g. 15.2.) 3. Compute the return on assets for 2020. (Round answer to 1 decimal place, e.g. 15.2%.) 4. Compute the return on common stockholders equity for 2020. (Round answer to 1 decimal place, e.g. 15.2%.
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