Krogen Grocer’s 2016 financial statements show net income of $1,680 million, sales of $153,466 million, and average total assets of $46,350 million. How much is Krogen Grocer’s return on sales for the year? Question 22 options: A) 1.09% B) 30.20% C) 3.62% D) 6.42%

Krogen Grocer’s 2016 financial statements show net income of $1,680 million, sales of $153,466 million, and average total assets of $46,350 million. How much is Krogen Grocer’s return on sales for the year? Question 22 options: A) 1.09% B) 30.20% C) 3.62% D) 6.42%

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

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Concept explainers

Conversion Cycle

Conversion cycle is also known as cash cycle or net operating cycle. Conversion cycle refers to how much time a company takes to turn its investments which is done from stock or any other financial resources into cash flows from sales.

Question

Krogen Grocer’s 2016 financial statements show net income of $1,680 million, sales of $153,466 million, and average total assets of $46,350 million.

How much is Krogen Grocer’s return on sales for the year?

Question 22 options:

1.09%

30.20%

3.62%

6.42%

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