Condensed balance sheet and income statement data for Clarence Corporation appea

Question

Condensed balance sheet and income statement data for Clarence Corporation appear below.

Clarence Corporation
Balance Sheets
December 31 2014 2013 2012 Cash $24,900 $16,700 $18,100 Receivables (net) 50,500 44,400 48,700 Other current assets 90,000 95,700 65,000 Investments 75,300 70,600 45,300 Plant and equipment (net) 399,200 370,000 358,900 $639,900 $597,400 $536,000 Current liabilities $70,800 $75,400 $69,400 Long-term debt 79,100 85,000 49,400 Common stock, $10 par 371,700 315,000 300,300 Retained earnings 118,300 122,000 116,900 $639,900 $597,400 $536,000

Explanation / Answer

1. Profit margin(net) = 63,900/ 698,200= for 2014 37,800/ 646,100= for 2013 2. assets turnover =

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