Homework Answers
Answer:
Prior Year Sales = $100,000
Prior Year Return on Sales Ratio = 8%
Return on Sales = Net Income / Sales * 100
Prior Year Return on Sales = Prior Year Net Income / Prior Year Sales * 100
8 = Prior Year Net Income / $100,000 * 100
Prior Year Net Income = $8,000
Current Year Increase in Sales = 12%
Current Year Sales = $100,000 * 1.12 = $112,000
Current Year Increase in Net Income = 6%
Current Year Net Income = $8,000 * 1.06 = $8,480
Current Year Return on Sales = Current Year Net Income / Current Year Sales * 100
Current Year Return on Sales = $8,480 / $112,000 * 100
Current Year Return on Sales = 7.57%
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Number 8A please. Can i also get explanantion as well? thank
you
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