Dimeback Co. has total assets of $8,900,000 and a total asset turnover of 2.39 t

Question

Dimeback Co. has total assets of $8,900,000 and a total asset turnover of 2.39 times. Assume the return on assets is 9 percent.

What is the company's sales? (Do not round intermediate calculations.)

What is the company's net income? (Do not round intermediate calculations.)

What is its profit margin? (Do not round intermediate calculations. Enter your answer as a percent rounded to 2 decimal places (e.g., 32.16).)

Dimeback Co. has total assets of $8,900,000 and a total asset turnover of 2.39 times. Assume the return on assets is 9 percent.

Explanation / Answer

Statement showing computations Particulars Amount Total Assets                   8,900,000.00 Asset Turnover                                   2.39 Return on Assets 9% Sales= 8,900,000*2.39                21,271,000.00 Net Income = 9%*8,900,000                      801,000.00 Profit Margin % = 801,000 / 21,271,000 3.77%

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