Staples, Inc. is one of the largest suppliers of office products in the United States. Suppose...

Question

Question

Staples, Inc. is one of the largest suppliers of office products in the United States. Suppose it had net income of $933 mill

business accounting

Add a comment Improve this question Transcribed image text

Answer 1

Answer #1

Solution

(a)	Asset turnover	1.72 Times
(b)	Profit margin	4.0%

Working

			Formula	Working
(a)	Asset turnover	1.72 times	(Sales/ Average total assets)	23301/((13101+13950)/2)
(b)	Profit margin	4.0%	Net income/Sales	(933/23301)

Add a comment

Answer 2

Similar Homework Help Questions

Staples, Inc. is one of the largest suppliers of office products in the United States. Suppose...

Staples, Inc. is one of the largest suppliers of office products in the United States. Suppose it had net income of $738.72 million and sales of $23,085.0 million in 2019. Its total assets were $12,000 million at the beginning of the year and $15,000 million at the end of the year. What is Staples, Inc.’s (a) asset turnover and (b) profit margin? CALCULATOR FULL SCREEN PRINTER VERSION BACK NEXT Brief Exercise 13-13 * Your answer is incorrect. Try again. Staples,...
Your answer is incorrect Staples, Inc. is one of the largest suppliers of office products in...

Your answer is incorrect Staples, Inc. is one of the largest suppliers of office products in the United States. Suppose it had net income of $620 million and sales of $23,401 million in 2017. Its total assets were $12,700 million at the beginning of the year and $13,850 million at the end of the year. What is Staples, Inc's (a) asset turnover and (b) profit margin? (Round asset turnover to 2 decimal places, e.g. 1.25 and profit margin to 1...
Question 4 of 8 < > -11 View Policies Current Attempt in Progress Staples, Inc. is...

Question 4 of 8 < > -11 View Policies Current Attempt in Progress Staples, Inc. is one of the largest suppliers of office products in the United States. Suppose it had net income of $820 million and sales of $24,200 million in 2022. Its total assets were $14.400 million at the beginning of the year and $15,650 million at the end of the year. What is Staples, Inc.'s (a) asset turnover and (b) profit margin? (Round answers to 2 decimal...

Two of the largest chains of clothing stores in the United States are The Gap, Inc....

Two of the largest chains of clothing stores in the United States are The Gap, Inc. and Abercrombie & Fitch Co. In fiscal 2011, Gap had net income of $833 million and Abercrombie & Fitch had net income of $128 million. It is difficult to judge from these figures alone which company is more profitable because they do not take into account the relative sales, sizes, and investments of the companies. Data (in millions) needed for a complete financial analysis...
Continuing Company Analysis-Amazon: Asset turnover ratio ADM 1 Amazon.com, Inc. is one of the largest Internet reta...

Continuing Company Analysis-Amazon: Asset turnover ratio ADM 1 Amazon.com, Inc. is one of the largest Internet retailers in the world. Netflix, Inc. provides digital streaming and DVD rentals in the United States. Amazon REAL WORLD and Netflix compete in streaming and digital services, however Amazon also sells many other products through the internet. The sales and total assets (in millions) from recent financial statements were reported as follows for both companies Amazon Netflix $88,988 $5,505 Total revenues (sales) Total assets:...
*Exercise 9-7 Nordstrom, Inc. operates department stores in numerous states. Suppose selected financial statement data (in...

*Exercise 9-7 Nordstrom, Inc. operates department stores in numerous states. Suppose selected financial statement data (in millions) for 2017 are presented below. End of Year $ 795 2,035 Beginning of Year $ 72 1,942 Cash and cash equivalents Accounts receivable (net) Inventory Other current assets Total current assets 898 900 303 326 $4,054 $3,217 $1,601 Total current liabilities $2,014 For the year, net credit sales were $8,258 million, cost of goods sold was $5,328 million, and net cash provided by...

*Exercise 9-10 Suppose selected comparative statement data for the giant bookseller Barnes & Noble are presented...

*Exercise 9-10 Suppose selected comparative statement data for the giant bookseller Barnes & Noble are presented here. All balance sheet data are as of the end of the fiscal year (in millions). Net sales Cost of goods sold Net income Accounts receivable Inventory Total assets Total common stockholders' equity 2017 $5,121.8 3,540.6 75.9 81.0 1,203.5 2,993.9 921.6 2016 $5,286.7 3,679.8 135.8 107.1 1,358.2 3,249.8 1,074.7 Compute the following ratios for 2017. (Round asset turnover to 2 decimal places, e.g 1.83...
Brief Exercise 14-10 Linebarger Corporation has net income of $13.83 million and net revenue of $75.49...

Brief Exercise 14-10 Linebarger Corporation has net income of $13.83 million and net revenue of $75.49 million in 2017. Its assets are $13.58 million at the beginning of the year and $19.40 million at the end of the year. What are Linebarger's (a) asset turnover and (b) profit margin? (Round answers to 1 decimal place, eg, 1.6 0r 1.6%.) (a) Asset turnover (b) Profit margin times
Nordstrom, Inc. operates department stores in numerous states. Suppose selected financial statement data (in millions) for...

Nordstrom, Inc. operates department stores in numerous states. Suppose selected financial statement data (in millions) for 2017 are presented below. End of Year Beginning of Year Cash and cash equivalents $ 810 $ 79 Accounts receivable (net) 2,070 1,890 Inventory 880 910 Other current assets 490 401 Total current assets $4,250 $3,280 Total current liabilities $2,040 $1,630 For the year, net credit sales were $8,258 million, cost of goods sold was $5,328 million, and net cash provided by operating activities...

Cabinaire Inc. is one of the largest manufacturers of office furniture in the United States. In...

Cabinaire Inc. is one of the largest manufacturers of office furniture in the United States. In Grand Rapids, Michigan, it assembles filing cabinets in an Assembly Department. Assume the following information for the Assembly Department: Direct labor per filing cabinet 20 minutes Supervisor salaries $123,000 per month Depreciation $24,000 per month Direct labor rate $21 per hour Prepare a flexible budget for 14,000, 18,000, and 21,000 filing cabinets for the month of March in the Assembly Department similar to Exhibit...

Staples, Inc. is one of the largest suppliers of office products in the United States. Suppose...

Homework Answers