Answered: Amir Company’s net income and net sales…

Amir Company’s net income and net sales are $18,000 and $1,100,000, respectively,and average total assets are $100,000. What is Amir’s return on assets?a. 20.0%b. 18.0%c. 3.7%d. 7.0%

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

See similar textbooks

Related questions

Q: Richard's Sporting Goods reports net income of $180,000, net sales of $530,000, and average assets…

A: The return on assets is calculated as ratio of net income and average assets.

Q: If Net sales $200,000, Cost of goods sold 90,000, Operating expenses 80,000, Net income10,000, Total…

A: Operating Income = Net Sales - Cost of goods sold - Operating expenses = $200,000 - $90,000 -…

Q: need help

A: Step 1: Definition of Asset Turnover Ratio:The asset turnover ratio compares the total assets of a…

Q: Use the following information for Smith Brothers, Inc: EBIT / Revenue 15.00% Government Tax Rate…

A: Return on Asset: A sort of return on investment indicator called return on assets (ROA) gauges a…

Q: At the end of accounting period, Callaway had $12,000 of common stock, paid in capital in excess par…

A: >Total Stockholder's equity is a section of Balance Sheet, and a part of accounting equation.…

Q: A company has the following income statement. What is its net operating profit after taxes (NOPAT)?…

A: NOPAT is also known as Net Operating profit after Tax. It is that amount which is earned from the…

Q: Consider the following income statement: $ 529,192 344,288 78,300 23% Sales Costs Depreciation Taxes…

A: Sales = $ 529192 Costs = $ 344288 Depreciation = $ 78300

Q: Consider the following income statement: Sales $909,407 Costs…

A: Operating cash flow (OCF) is a measurement of how much money a company generates through regular…

Q: What company is better in short-term and why

A: Accounting Ratios- Accounting Ratios are the ratios that are used to compare financial statements of…

Q: The Timber Ridge Company has the following relationships: Sales/Total assets = 2.46; ROA = 0.1080…

A: SalesTotal Assets = 2.46 ROA = 0.1080 Net profit Margin = Net IncomeSales

Q: A company's interest expense is $8,000. Its income before interest expense and income taxes is…

Q: Calculate Return on Total Assets each year separately.

A: Return on Total Assets= EBITAverage Total Assets

Q: You are given the following information for Smashville, Incorporated. Cost of goods sold: Investment…

A: Price Book Ratio Many investors use the price-to-book ratio (P/B ratio) to compare a firm's market…

Q: A retail company TGT has sales of $1,120,000 and total costs of $955,000, including depreciation and…

A: Profit margin = Net profit / Sales * 100

Q: Edison Company reported the following for the current year: Net sales Cost of goods sold Net income…

A: Profit Margin RatioProfit margin is a financial statistic that determines the proportion of profit…

Q: THE COCA-COLA COMPANY AND SUBSIDIARIES CONSOLIDATED STATEMENTS OF INCOME (In millions except per…

A: Ratio Analysis: Ratio analysis is a quantitative method of gaining insight into a company's…

Q: X-1 Corp's total assets at the end of last year were $495,000 and its EBIT was $52,500. What was its…

A: In this question, we are required to determine the Basic Earning Power (BEP) ratio.

Q: Rappaport Corp.'s sales last year were $375,000, and its net income after taxes was $23,000. What…

A: Profit margin on sales is ratio of net profit on sales that is as follows: As per formula Profit…

Q: the following information is provided for Northwest company. net income 2022 $165 net…

A: The assets turnover ratio is calculated to know about the efficiency of assets to generate the…

Q: Question: A company had net income of $2,660,000, net sales of $25,000,000, and average total assets…

A: Step 1:Return on total assets is a type of ratio which is a method of analysis of financial…

Q: Calculate gross margin (%) Calculate operating margin (EBIT = Operating Profit) (%) a- Calculate…

A: The question is based on the concept of Financial Ratios. The gross profit margin ratio is…

Q: If the gross profit ( 2250 000 )D. The total Cost ( 4750 000 )D. , and the Sales value ( 7000 000…

A: If the gross profit 2250000D. The total Cost 4750 000D., and the Sales value 7000000 D.The percent…

Q: Ans pls

A: Asset turnover ratio = net sales/average total assets. The numerator is net sales and denominator is…

Q: Q5: Horner Corporation reported net sales of $150,000, cost of goods sold of $96,000, operating…

A: The gross profit is calculated as difference between sales and cost of goods sold.

Q: Assume the following sales data for a company: Year 2 $562,500 Year 1 $450,000 What is the…

A: SOLUTION- FORMULA= PERCENTAGE INCREASE IN SALES FROM YEAR 1 TO YEAR 2= CHANGE IN SALES FROM YEAR 1…

Q: Hel Edison Co. reported the following for the current year: Net sales Cost of goods sold Net income…

A: Average Total assets = (Beginning Total assets + Ending Total assets) / 2 =(60000+68000)/2 = $64,000

Q: Chambliss Corp.'s total assets at the end of last year were $265,000 and its EBIT was 62,500. What…

A: Here, Total Assets is $265,000 EBIT is $62,500

Q: You are given the following information for Smashville, Incorporated. Cost of goods sold: Investment…

A: Book value per share is the equity available to the shareholders divided by the number of…

Q: Using the data in the following table for a number of firms in the same industry, do the following:…

A: Answer 1: Total Asset Turnover =Total SalesNet Assets Net Profit Margin = Net Income After taxNet…

Q: Problem

A: Step 1: introduction to the Return on Assets:The return on assets shows the amount of net income as…

Q: entory Expens

A: Current ratio is ratio of current assets to current laibilties.

Q: The following financial information was provided by Anya Company: Net Income 8,255,000.00…

A: Net profit margin depends on sales and net income and all these are quite interrelated to each…

Q: Need Correct Answer

Q: Computing and Interpreting Financial Statement Ratios Following are selected ratios of Norfolk…

A: Let's go through the questions based on the given ratios for Norfolk Southern:1. Was the company…

Q: - If the net profit of a business is 1.200.000 TL and its total assets are 4.000.000 TL, what is the…

A: The profitability ratio indicates the profit earning ability of the firm by using the total assets.…

Q: Financial information of Aris company are given below. $ Revenue 70000 Net profit 11200 Total…

A: Ratio analysis is a very important technique of financial management analysis. Under this, various…

Question

Amir Company’s net income and net sales are $18,000 and $1,100,000, respectively,
and average total assets are $100,000. What is Amir’s return on assets?
a. 20.0%
b. 18.0%
c. 3.7%
d. 7.0%

Expert Solution

This question has been solved!

Explore an expertly crafted, step-by-step solution for a thorough understanding of key concepts.

This is a popular solution!

SEE SOLUTION Check out a sample Q&A here

Step 1

VIEW

Step 2

VIEW

Trending now

This is a popular solution!

Step by step

Solved in 2 steps with 1 images

SEE SOLUTION Check out a sample Q&A here

Knowledge Booster

Learn more about

Need a deep-dive on the concept behind this application? Look no further. Learn more about this topic, accounting and related others by exploring similar questions and additional content below.

Similar questions

Given help with problem
Scranton Paper Company generates $.97 in sales for every $1 invested in total assets. Which one of the following ratios would reflect this relationship? Multiple Choice Receivables turnover Equity multiplier Profit margin Return on assets
Harmony Haven Gifts has sales of $810,200, total assets of $577,900, and a profit margin of 4.3 percent. What is the return on assets? 6.03 percent 4.30 percent O 6.54 percent 3.83 percent 7.01 percent
Compute Profit Margin if Net İncome:2.026 ; Sales:17.193 ;Total Assets: 31.483 ; Total Equity: 12.804.a) 6.44%b) 14.00%c) 15.82%d) 11.78%
Nikul
Using the financial data for Key Wahl Industries Sales Net Profit After Tax Total Assets Total Liabilities O.50 02 O.75 $4,500,000 What is the debt ratio? O.075 $337,5000 $6,750,000 $ 3,375,000
X-1 Corp's total assets at the end of last year were $395,000 and its EBIT was $52,500. What was its basic earning power (BEP) ratio? a. 11.30% b. 16.35% c. 13.29% d. 11.70% e. 15.55%
A company had a profit margin of 15%. If net income equaled $44,000 and average total assets equaled $335,000, how much were net sales? (Rounded to the nearest whole dollar.) A. $293,333 B. $6,600 C. $223 D. $50,250 E. $291,000
Cochran corporation, Inc. has the following income statement: Cochran corporation, Inc. Income statement For the year ended December 31, 2021 net sales $240 Cost of goods sold $150 gross profit $90 Operating expenses $65 Net income $25 Using vertical analysis, what percentage is assigned to operating expenses? a. 27,1% b. 43.3% c. 72.2% d. 260.0%
Mcq … help
Aurora Lighting Ltd has the following income statement items: sales of $12 000 000; cost of goods sold of $4 000 000; other operating expenses of S1 500 000; and interest expense of $50 000. 1. Calculate gross profit margin of the company?
Find the Net Sales