Suppose during 2022 that Federal Express reported the following information (in millions): net sales of $34,750 and net income of $95. Its balance sheet also showed total assets at the beginning of the year of $24,650 and total assets at the end of the year of $23,300.
Homework Answers
| Asset Turnover = | Net Sales / Average Total Assets |
| = | 34750 / 23975 |
| = | 1.45 |
| Average Total Assets = | Assets at the Beginning of year + Assets at the closing of year |
| (24,650+23,300) / 2 = $23,975 | |
| Return on assets = | Net Income / Average Total Assets |
| = | 95/23975 |
| = | 0.0040 |
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Suppose during 2022 that Federal Express
reported the following information (in millions): net sales of
$34,750...
– Your answer is partially correct. Suppose during 2022 that Federal Express reported the following information...
– Your answer is partially correct. Suppose during 2022 that Federal Express reported the following information (in millions): net sales of $34,750 and net income of $95. Its balance sheet also showed total assets at the beginning of the year of $24,650 and total assets at the end of the year of $23,300. Calculate the asset turnover and return on assets. (Round asset turnover to 2 decimal places, e.g. 6.25 and return on assets to 1 decimal place, e.g. 17.5%.)...
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