Business, 01.02.2021 21:20, msprincessswag3324

Using the income statement for Times Mirror and Glass Co., compute the following ratios: TIMES MIRROR AND GLASS COMPANY

Sales $270,000
Cost of goods sold 130,000
Gross profit $140,000
Selling and administrative expense 43,200
Lease expense 11,700
Operating profit* $85,100
Interest expense 9,300
Earnings before taxes $75,800
Taxes (30%) 30,320
Earnings after taxes $45,480

*Equals income before interest and taxes.

Required:
a. Compute the profit margin ratio.
b. Compute the total asset turnover ratio.
c. Compute the return on assets (investment).

Answers: 2

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Using the income statement for Times Mirror and Glass Co., compute the following ratios: TIMES MIRR...