Y Energy’s margin was 3% and turnover was 4.0 on sales of $50 million for the...
Y Energy’s margin was 3% and turnover was 4.0 on sales of $50 million for the year. Net income for the year was? Average assets for the year was?
Homework Answers
Answer:
Net Income = Sales * Margin
= $50 million * 3% = $1.50 million or $1,500,000
Average assets = Sales / Turnover
= $50 million / 4 = $12.50 million or $12,500,000
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