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Cornerstones of Managerial Accounting 6th Edition by Maryanne Mowen,Don Hansen ,Dan Heitger
Edition 6ISBN: 978-1305103962Cornerstones of Managerial Accounting 6th Edition by Maryanne Mowen,Don Hansen ,Dan Heitger
Edition 6ISBN: 978-1305103962 Exercise 57
Return on Sales
Juroe Company provided the following income statement for last year:
Juroe's balance sheet as of December 31 last year showed total liabilities of $10,250,000, total equity of $6,150,000, and total assets of $16,400,000.
Refer to the information for Juroe Company above.
Required:
1. Calculate the return on sales. ( Note : Round the percent to two decimal places.)
2. CONCEPTUAL CONNECTION Briefly explain the meaning of the return on sales ratio, and comment on whether Juroe's return on sales ratio appears appropriate.
Juroe Company provided the following income statement for last year:
Juroe's balance sheet as of December 31 last year showed total liabilities of $10,250,000, total equity of $6,150,000, and total assets of $16,400,000.
Refer to the information for Juroe Company above.
Required:
1. Calculate the return on sales. ( Note : Round the percent to two decimal places.)
2. CONCEPTUAL CONNECTION Briefly explain the meaning of the return on sales ratio, and comment on whether Juroe's return on sales ratio appears appropriate.
Explanation
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Return on sales:
Return on sa...
Cornerstones of Managerial Accounting 6th Edition by Maryanne Mowen,Don Hansen ,Dan Heitger
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