Essay
A company had net income of $76,000 in 2012 and $88,000 in 2013.Its net sales were $640,000 in 2012 and $611,000 in 2013.Its average total assets in 2012 were $670,000 and $712,000 in 2013.Calculate the profit margin,total asset turnover,and return on total assets for both years.Comment on the results.
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