Calculate the return on total assets ratio based on the following information: cash = $14,870; accounts...
Calculate the return on total assets ratio based on the following information: cash = $14,870; accounts receivable = $22,108; prepaid $3,010; supplies = $927; equipment = $62,150; accumulated depreciation = 13,750; accounts payable = 28,000; net sales = $325,000; interest expense $6,000; tax expense = $12,600; earnings before interest and taxes = $122,623; number of shares outstanding = 335,000. Round to two decimal places, and assume this is the first year of operations, so beginning total assets equal $0.
Homework Answers
Return on total assets is a profitability measure which measures the efficiency of company in generating returns using their assets.
Return on total assets = Earnings before interest and taxes/Total assets
Total assets = Cash 14,870 + Accounts Receivable 22,108 + Prepaid expenses 3,010 + Supplies 927 + Equipment less Accumulated Depreciation (62,150-13,750) = 89,315
= 122,623/89,315
= 137.29%
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Calculate the return on total assets ratio based on the
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briefly what the number you calculated means:
a) Current ratio
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