Your Ch BusinessCourse E Menu CLICK HERE TO REVIEW LEARNING OBJECTIVES QUESTION

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Your Ch BusinessCourse E Menu CLICK HERE TO REVIEW LEARNING OBJECTIVES QUESTION 1 Not complete Marked out of 4.00? Fag question Return on Assets Ratio and Asset Turnover Ratio Allied Systems reported the following financial data (in millions) in its annual report 2015 2016 Net income $19,300 $16,134 Net Sales 49,540 47,152 Total Assets 68,734 78,128 If the company's total assets are $65,676 in 2014, calculate the company's (a) return on assets (round answers to onedecimalpace-ex: 10.7%) (b) asset turnover for 2015 and 2016 (round answers to two decimal places) 2015 2016 a. Return on Assets Ratio b. Asset Turnover Ratio Check Save Answers Finis 20 888 a 2 3 4

Explanation / Answer

Return on Assets ratio = Net income / Avereage total assets

Asset turnover ratio = Net sales / Average total assets

2015 2016 Average total assets 67,205 [(65,676+68,734)/2] 73,431 [(68,734+78,128)/2]

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