During 2022, Blue Spruce Corp. reported net sales of $2000000, net income of $870000, and depreciation...
During 2022, Blue Spruce Corp. reported net sales of $2000000, net income of $870000, and depreciation expense of $140000. Blue Spruce also reported beginning total assets of $1080000, ending total assets of $1460000, plant assets of $510000, and accumulated depreciation of $700000. Blue Spruce’s asset turnover is (Round answer to 2 decimal places, e.g. 15.20.)
a ) 0.80 times. b 1.37 times. c 1.57 times. d 1.85 times.
Homework Answers
| Assets Turnover = Sales revenue / Average total Assets |
| Assets Turnover = $2,000,000 / (($1,080,000 + $1,460,000) / 2) |
| Assets Turnover = 1.57 |
Answer is c 1.57 times
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please answer 13,14,15
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please answer 13,14,15
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Suppose during 2022 that Federal Express
reported the following information (in millions): net sales of
$34,750 and net income of $95. Its balance sheet also showed total
assets at the beginning of the year of $24,650 and total assets at
the end of the year of $23,300.
Calculate the asset turnover and return on assets. (Round asset turnover to 2 decimal places, e.g. 6.25 and return on assets to 1 decimal place, e.g. 17.5%.) Asset turnover times Return on assets
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