The following selected information is for Foress Corporation: Total assets Total shareholders' equity Sales Cost of goods sold Net income Foress had no preferred shares. (a) Gross profit margin Profit margin Calculate the gross profit margin, profit margin, asset turnover, return on assets, and return on common shareholders' equity ratios for 2024 and 2023. (Round gross profit margin, profit margin, return on assets and return on equity to 1 decimal place e.g. 2.6 or 2.6%. Round asset turnover to 2 decimal places e.g. 6.21.) Asset turnover 2024 $353,000 133,500 507,000 382,785 33,462 Return on assets 2023 $267,000 95,000 45,000 410,000 293,000 291,920 188,000 29,930 19,400 Return on common shareholders' equity 2022 $280,000 2024 % times % 2023 % times % %

The following selected information is for Foress Corporation: Total assets Total shareholders' equity Sales Cost of goods sold Net income Foress had no preferred shares. (a) Gross profit margin Profit margin Calculate the gross profit margin, profit margin, asset turnover, return on assets, and return on common shareholders' equity ratios for 2024 and 2023. (Round gross profit margin, profit margin, return on assets and return on equity to 1 decimal place e.g. 2.6 or 2.6%. Round asset turnover to 2 decimal places e.g. 6.21.) Asset turnover 2024 $353,000 133,500 507,000 382,785 33,462 Return on assets 2023 $267,000 95,000 45,000 410,000 293,000 291,920 188,000 29,930 19,400 Return on common shareholders' equity 2022 $280,000 2024 % times % 2023 % times % %

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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