Question: The following is selected data for Simpson Equipment, Inc., for the current year: Sales ................................................. $782.000 Net income ........................................... 55,000 Total current assets, beginning .......................
The following is selected data for Simpson Equipment, Inc., for the current year:
Sales ................................................. $782.000
Net income ........................................... 55,000
Total current assets, beginning ....................... 92,000
Total current assets, ending ......................... 117,000
Property, plant and equipment, beginning ........... 294,000
Property, plant and equipment, ending .............. 320.000
Total assets, beginning ................................ 386,000
Total assets, ending .................................. 437,000
Requirement
Calculate the return on assets (ROA) and the fixed asset turnover ratio for Simpson Equipment for the current year. Round your answers to two decimal places?
Step by Step Solution
3.33 Rating (174 Votes )
There are 3 Steps involved in it
Return on Assets Net income Ave... View full answer
Get step-by-step solutions from verified subject matter experts
Document Format (3 attachments)
1350_60b9f89a67045_607729.pdf
180 KBs PDF File
1350-B-M-A-I(3407).xlsx
300 KBs Excel File
1350_60b9f89a67045_607729.docx
120 KBs Word File
Study Help