Using the income statement below, calculate the following profitability ratios for Western Bookkeeping and Tax Service. Assume that stockholder's equity equals $441,600 and total assets equal $640,000.
Profit margin ratio
Return on equity ratio
Asset turnover ratio
Write the profit margin and return on equity ratios as a percent, rounded to the nearest percent. Write the asset turnover ratio as a decimal, rounded to two decimal places.

Using The Income Statement Below, Calculate The Following Profitability Ratios For Western Bookkeeping

Answers

Answer 1

The computation of the profitability ratios for Western Bookkeeping and Tax Service is as follows:

Profit margin ratio = 8%Return on equity ratio = 8%Asset turnover ratio = 0.75.

What are profitability ratios?

Profitability ratios are the financial ratios that evaluate an entity's ability to convert its earnings (revenue) into profit versus different criteria.

Some of the common profitability ratios include:

Gross Profit MarginOperating Income RatioNet Income RatioReturn on Investment (ROI)Return on EquityReturn on Total AssetsAsset turnover RatioEarnings per share.

Stockholders' equity = $442,600

Total assets = $640,000

Net sales = $480,000

Net income = $36,000

Profit margin ratio = Net income/Net Sales x 100

= $36,000/$480,000 x 100

= 7.5%

= 8%

Return on equity ratio = Net income/Shareholders' Equity x 100

= $36,000/$442,600 x 100

= 8.13%

= 8%

Asset turnover ratio = Net Sales/Total Assets

= $480,000/$640,000

= 0.75

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Answer:

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Step-by-step explanation:

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Answers

Answer:

The volume of the solid is π/40 cubic units.

Step-by-step explanation:

Please refer to the graph below.

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[tex]\displaystyle A=\frac{1}{2}\pi r^2[/tex]

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How to find the volume of a three dimensional region bounded by curves?

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Answer:

Step-by-step explanation:

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in B,  as above, we know that 2.7*10.6 will be less than 3*10.6      see?

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Answers

Answer:

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Step-by-step explanation:

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5.4 is the length

Step-by-step explanation:

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Thanks and Rate my Answer Please!

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plz help I will give the brainlist David drew this diagram of a picture frame he is going to make. Each square represents 1 square inch. What is the area of the picture​ frame?

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Answer:

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Step-by-step explanation:

Find the missing angle

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Answer:

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5

Step-by-step explanation:

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Answer:

5x

Step-by-step explanation:

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Answer:

C. Alternate Interior angles.

Step-by-step explanation:

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Answers

Answer:

192

Step-by-step explanation:

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Answers

a) 2(3) - 7(3) + 3(-4)
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Answers

Answer:

-5

Step-by-step explanation:

Easy problem just look at the photo

Answers

Answer:

55

Step-by-step explanation:

a triangle adds up to 180°

25+30+x= 180

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