Question: Selected financial statement data for Grouper Company are presented below. Net sales $1,575,000 Cost of goods sold 720,000 Interest expense 11,200 Net income 220,500 Total
Selected financial statement data for Grouper Company are presented below.
| Net sales | $1,575,000 | |
| Cost of goods sold | 720,000 | |
| Interest expense | 11,200 | |
| Net income | 220,500 | |
| Total assets (ending) | 1,000,000 | |
| Total common stockholders' equity (ending) | 700,000 |
Total assets at the beginning of the year were $800,000; total common stockholders' equity was $540,000 at the beginning of the period.
Calculate asset turnover. (Round answer to 2 decimal places, e.g. 15.21%.) Compute the profit margin. (Round answer to 1 decimal place, e.g. 0.2%.) Compute return on assets. (Round answer to 1 decimal place, e.g. 15.2%.)
Compute return on common stockholder's equity. (Round answer to 1 decimal place, e.g. 15.2%.)
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