Question: What is the answer to this question? Bob's Cafe reported sales of $720,000 and net income of $26,500. Bob's also reported ending total assets of
What is the answer to this question?
Bob's Cafe reported sales of $720,000 and net income of $26,500. Bob's also reported ending total assets of $495,000 and beginning total assets of $388,000. Required: Calculate the return on assets, the profit margin, and the asset turnover ratio for Bob's Cafe. Return on Assets Choose Numerator Choose Denominator Return on Assets Net income Average total assets Return on Assets 26,500 O Profit Margin Choose Numerator Choose Denominator Profit Margin Net income - Sales Profit Margin J. = Asset Turnover Ratio Choose Numerator Choose Denominator = Asset Turnover Sales Average total assets = Asset Turnover = 0 timesStep by Step Solution
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