The following information is provided for Canadian Industries Inc. for the year 2015 along with industry averages:

Question:

December 31 2014 $25,000 2015 Current Assets. $30,000 Long-Term Assets. *....*** $70,000 $73,000

Net sales for 2015 amounted to $75,000 and net income was $25,000.
Requirements
1. Calculate the assets turnover ratio and the long-term assets turnover ratio.
2. Calculate return on assets and return on long-term assets.

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Financial Accounting

ISBN: 978-0133375534

2nd Canadian edition

Authors: Jeffrey Waybright, Robert Kemp, Sherif Elbarrad

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Question Posted: Feb 12, 2018 10:36 AM

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The following information is provided for Canadian Industries Inc. for the year 2015 along with industry averages:

Question:

December 31 2014 $25,000 2015 Current Assets. $30,000 Long-Term Assets. *....*** $70,000 $73,000

Step by Step Answer:

Req 1 t r s A total a t r 750002500073000 30000700002 076 t ...View the full answer

Financial Accounting

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