Page 1 of 1
The income statement for Stretch-Tape Corporation reports net sales of $540,000 and net income of $65,700. Average total
Posted: Wed Jul 06, 2022 6:10 am
by answerhappygod
- The Income Statement For Stretch Tape Corporation Reports Net Sales Of 540 000 And Net Income Of 65 700 Average Total 1 (18.25 KiB) Viewed 27 times
The income
statement for Stretch-Tape Corporation reports net sales of $540,000 and net income of $65,700. Average total assets for the year are $900,000. Stockholders' equity at the beginning of the year was $600,000, and $30,000 was paid to stockholders as dividends during the year. There were no other stockholders' equity transactions that occurred during the year. Required: Calculate the return on assets, profit margin, asset turnover, and return on equity ratios. (Round your answers to 1 decimal place.) Profitability Ratios Return on assets Profit margin Asset turnover Return on equity % % times %