Homework Answers
a.
For marigold company
Total assets = Current liability + Long term liability + common stock + Retained earnings
= 324,000 + 1,090,000 + 1,860,000 + 748,000
= $4,022,000
Net income = $856,800
Return on total assets = Net income/Total assets
= 856,800/4,022,000
= 21.30%
For swifty company
Total assets = Current liability + common stock + Retained earnings
= 194,000 + 3,080,000 + 748,000
= $4,022,000
Net income = $944,000
Return on total assets = Net income/Total assets
= 944,000/4,022,000
= 23.47%
| Return on total assets | |
| Marigold company | 21.30% |
| Swifty company | 23.47% |
Swifty company is more profitable in terms of Return on total assets.
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