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https://edugen.wileyplus.com/edugen/student/mainfr.uni Grades and Attenda o D WileyPLUS-Home / Google DEE Holy Savior Academ ent Exercise 18-8 Selected comparative statement data for Queen Products Company are presented below. A 2017 2016 Net sales Cost of goods sold Interest expense Net income Accounts receivable Inventory Total assets Total common stockholders' equity $761,000 $717,000 482,000 438,000 5,400 41,500 122,000 108,00o 75,400 495,600 326,900 8,000 49,000 83,000 578,000 428,000 Compute the following ratios for 2017. (Round answers to 1 decimal place, e.g. 1.6, or 1. Profit margin Asset turnover Return on assets Return on common stockholders' equity times search

Explanation / Answer

Profit margin = Net income/Net sales = 49000/761000= 6.4% Asset turnover = Net sales/Average assets = 761000/((578000+495600)/2)= 1.4 Return on assets= Net income/Average assets =49000/((578000+495600)/2)= 9.1% Return on common stocholders' equity= Net income/Average stockholders' equity =49000/((428000+326900)/2)= 13.0%

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