Wilson Industries' 2021 financial statements show net income of $2,049 million, average shareholders’ equity of $10,500...
Wilson Industries' 2021 financial statements show net income of $2,049 million, average shareholders’ equity of $10,500 million, average total assets of $ 54,000 million, and interest expense of $930 million.
How much is Wilson Industries’ return on assets for the year? Assume that the statutory tax rate is 30%.
Homework Answers
Return on assets = Net income / Average total assets * 100
= $2,049 / $54,000 * 100
= 3.79%
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Wilson Industries' 2021 financial statements show net income of
$2,049 million, average shareholders’ equity of $10,500...
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Kroger's 2012 financial statements show average shareholders' equity of $4,632 million, net income of $602 million, interest expense of $435 million, and average total assets of $23,491 million. How much is Kroger's return on assets for the year? Assume that the statutory rate is 35%. A. 10.7% B. 0.6% C. 3.8% D. 9.4% E. There is not enough information to calculate the ratio
Financial statements for Askew Industries for 2021 are shown below in thousands 2021 Income Statement Net...
Financial statements for Askew Industries for 2021 are shown below in thousands 2021 Income Statement Net sales $ 8,700 Cost of goods sold (6,075) Gross profit 2,625 Operating expenses (1,875) Interest expense (110) Income tax expense (256) Net income 384 Comparative Balance Sheets Dec. 31 2021 2020 Assets Cash Accounts receivable Inventory Property, plant, and equipment (net) $ 510 510 710 1,100 $2,830 $ 410 310 510 1,200 $2,430 Liabilities and Shareholders' Equity Current liabilities Bonds payable Common stock Retained...
Financial statements for Askew Industries for 2021 are shown below (in thousands): 2021 Income Statement Net...
Financial statements for Askew Industries for 2021 are shown
below (in thousands):
2021 Income Statement
Net sales
$
9,500
Cost of goods sold
(6,425
)
Gross profit
3,075
Operating expenses
(2,225
)
Interest expense
(250
)
Income tax expense
(240
)
Net income
$
360
Comparative Balance Sheets
Dec. 31
2021
2020
Assets
Cash
$
650
$
550
Accounts receivable
650
450
Inventory
850
650
Property, plant, and equipment (net)
2,500
2,600
$
4,650
$
4,250
Liabilities and Shareholders’ Equity...
Financial statements for Askew Industries for 2021 are shown below (in thousands): 2021 Income Statement Net...
Financial statements for Askew Industries for 2021 are shown below (in thousands): 2021 Income Statement Net sales $ 9,200 Cost of goods sold (6,350) Gross profit 2,850 Operating expenses (2,150) Interest expense (220) Income tax expense (192) Net income $ 288 Comparative Balance Sheets Dec. 31 2021 2020 Assets Cash Accounts receivable Inventory Property, plant, and equipment (net) $ 620 620 820 2,200 $4,260 $ 520 420 620 2,300 $3,860 Liabilities and Shareholders' Equity Current liabilities Bonds payable Common stock...
Financial statements for Askew Industries for 2021 are shown below (in thousands): 2021 Income Statement Net...
Financial statements for Askew Industries for 2021 are shown below (in thousands): 2021 Income Statement Net sales $ 9,900 Cost of goods sold (6,525) Gross profit 3,375 Operating expenses (2,325) Interest expense (290) Income tax expense (384) Net income $ 456 Comparative Balance Sheets Dec. 31 2021 2020 Assets Cash Accounts receivable Inventory Property, plant, and equipment (net) $ 690 690 890 2,900 $5,170 $ 590 490 690 3,000 $4,770 Liabilities and Shareholders' Equity Current liabilities Bonds payable Common stock...
please complete and show work with formulas Financial statements for Askew Industries for 2021 are shown...
please complete and show work
with formulas
Financial statements for Askew Industries for 2021 are shown below (in thousands): 2021 Income Statement Net sales $ 8,800 Cost of goods sold (6,250) Gross profit 2,550 Operating expenses (2,050) Interest expense (180) Income tax expense (128) Net income $ 192 Comparative Balance Sheets Dec. 31 2021 2020 Assets Cash Accounts receivable Inventory Property, plant, and equipment (net) $ 580 580 780 1,800 $3,740 $ 480 380 580 1,900 $3,340 Liabilities and Shareholders'...
Financial statements for Askew Industries for 2021 are shown below in thousands): • 4-12 Calculating ctivity...
Financial statements for Askew Industries for 2021 are shown below in thousands): • 4-12 Calculating ctivity and ofitability ratios L04-10 2021 Income Statement Net sales Cost of goods sold Gross profit Operating expenses Interest expense Income tax expense Net income $9.000 (6,300) 2,700 (2,100) (200) (100) $ 300 Comparative Balance Sheets Dec. 31 2021 2020 Assets Cash Accounts receivable Inventory Property, plant, and equipment (net) $ 600 600 800 2,000 $4,000 $ 500 400 600 2,100 $3,600 Liabilities and Shareholders'...
Financial statements for Askew Industries for 2021 are shown below in thousands): - 4-12 Calculating ctivity...
Financial statements for Askew Industries for 2021 are shown below in thousands): - 4-12 Calculating ctivity and ofitability ratios L04-10 2021 Income Statement Net sales Cost of goods sold Gross profit Operating expenses Interest expense Income tax expense Net Income $9,000 (6,300) 2.700 (2,100) (200) (100) $ 300 Comparative Balance Sheets Dec. 31 2021 2020 Assets Cash Accounts receivable Inventory Property, plant, and equipment (net) $ 600 600 800 2,000 $4,000 $ 500 400 600 2,100 $3,600 Liabilities and Shareholders'...
The financial statements of The New Idea Company this year shows average shareholders’ equity of $837,283...
The financial statements of The New Idea Company this year shows average shareholders’ equity of $837,283 thousand, net operating profit after tax of $66,275 thousand, net income of $29,068 thousand, and average net operating assets of $354,414 thousand. Tax rate for the year is 33%. The company’s Return on Net Operating Assets (RNOA) for the year is (round to two decimal places):
Question 12 Below are financial statements for a firm that paid a net $16 million to...
Question 12 Below are financial statements for a firm that paid a net $16 million to shareholders in 2010. Supply the missing numbers (indicated by the capital letters) in the financial statements. Make sure to show how you got to the numbers. Balance sheet, end of 2010 Balance Sheet, End of 2010 (In Million Dollars) 2010 2009 2010 2009 Operating Assets A 400 Operating Liabilities 200 150 Financial Assets 300 B Financial Obligations F E Shareholders’ Equity D 180 Total...
Financial statements for Askew Industries for 2021 are shown below in thousands 2021 Income Statement Net sales $ 8,700 Cost of goods sold (6,075) Gross profit 2,625 Operating expenses (1,875) Interest expense (110) Income tax expense (256) Net income 384 Comparative Balance Sheets Dec. 31 2021 2020 Assets Cash Accounts receivable Inventory Property, plant, and equipment (net) $ 510 510 710 1,100 $2,830 $ 410 310 510 1,200 $2,430 Liabilities and Shareholders' Equity Current liabilities Bonds payable Common stock Retained...
Financial statements for Askew Industries for 2021 are shown
below (in thousands):
2021 Income Statement
Net sales
$
9,500
Cost of goods sold
(6,425
)
Gross profit
3,075
Operating expenses
(2,225
)
Interest expense
(250
)
Income tax expense
(240
)
Net income
$
360
Comparative Balance Sheets
Dec. 31
2021
2020
Assets
Cash
$
650
$
550
Accounts receivable
650
450
Inventory
850
650
Property, plant, and equipment (net)
2,500
2,600
$
4,650
$
4,250
Liabilities and Shareholders’ Equity...
Financial statements for Askew Industries for 2021 are shown below (in thousands): 2021 Income Statement Net sales $ 9,200 Cost of goods sold (6,350) Gross profit 2,850 Operating expenses (2,150) Interest expense (220) Income tax expense (192) Net income $ 288 Comparative Balance Sheets Dec. 31 2021 2020 Assets Cash Accounts receivable Inventory Property, plant, and equipment (net) $ 620 620 820 2,200 $4,260 $ 520 420 620 2,300 $3,860 Liabilities and Shareholders' Equity Current liabilities Bonds payable Common stock...
Financial statements for Askew Industries for 2021 are shown below (in thousands): 2021 Income Statement Net sales $ 9,900 Cost of goods sold (6,525) Gross profit 3,375 Operating expenses (2,325) Interest expense (290) Income tax expense (384) Net income $ 456 Comparative Balance Sheets Dec. 31 2021 2020 Assets Cash Accounts receivable Inventory Property, plant, and equipment (net) $ 690 690 890 2,900 $5,170 $ 590 490 690 3,000 $4,770 Liabilities and Shareholders' Equity Current liabilities Bonds payable Common stock...
please complete and show work
with formulas
Financial statements for Askew Industries for 2021 are shown below (in thousands): 2021 Income Statement Net sales $ 8,800 Cost of goods sold (6,250) Gross profit 2,550 Operating expenses (2,050) Interest expense (180) Income tax expense (128) Net income $ 192 Comparative Balance Sheets Dec. 31 2021 2020 Assets Cash Accounts receivable Inventory Property, plant, and equipment (net) $ 580 580 780 1,800 $3,740 $ 480 380 580 1,900 $3,340 Liabilities and Shareholders'...
Financial statements for Askew Industries for 2021 are shown below in thousands): • 4-12 Calculating ctivity and ofitability ratios L04-10 2021 Income Statement Net sales Cost of goods sold Gross profit Operating expenses Interest expense Income tax expense Net income $9.000 (6,300) 2,700 (2,100) (200) (100) $ 300 Comparative Balance Sheets Dec. 31 2021 2020 Assets Cash Accounts receivable Inventory Property, plant, and equipment (net) $ 600 600 800 2,000 $4,000 $ 500 400 600 2,100 $3,600 Liabilities and Shareholders'...
Financial statements for Askew Industries for 2021 are shown below in thousands): - 4-12 Calculating ctivity and ofitability ratios L04-10 2021 Income Statement Net sales Cost of goods sold Gross profit Operating expenses Interest expense Income tax expense Net Income $9,000 (6,300) 2.700 (2,100) (200) (100) $ 300 Comparative Balance Sheets Dec. 31 2021 2020 Assets Cash Accounts receivable Inventory Property, plant, and equipment (net) $ 600 600 800 2,000 $4,000 $ 500 400 600 2,100 $3,600 Liabilities and Shareholders'...
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