Campo Systems reported the following financial data (in millions) in its annual report: For...
Question:
Campo Systems reported the following financial data (in millions) in its annual report:
For 2015:
Income 8,052
Net sales 52,250
Net assets 56,734
For 2016:
Net income 7,250
Net sales 36,117
Net assets 68,128
If the company's total assets are $55,676 in 2014, calculate the company's return on assets and asset turnover for 2015 and 2016.
Asset Ratios
Financial statement analysis is a process of analyzing data to understand a company's performance. One area of focus is on assets. A company needs to understand if their assets are being used efficiently in order to maximize profitability. "Return on Assets" and "Asset Turnover" are ratios that help with this analysis.
Answer and Explanation: 1
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View this answer| 2015 | 2016 | |
|---|---|---|
| Return on assets | 14.3% | 11.6% |
| Asset Turnover | 0.93 times | 0.58 times |
Solution calculations:
The equation for calculating return on assets is...
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