Question - Selected comparative statement data for Queen Products Company are presented below. All balance sheet data are as of December 31.
|
|
2017
|
2016
|
|
Net sales
|
$763,000
|
$722,500
|
|
Cost of goods sold
|
483,500
|
442,500
|
|
Interest expense
|
7,500
|
4,300
|
|
Net income
|
50,500
|
42,000
|
|
Accounts receivable
|
119,000
|
100,000
|
|
Inventory
|
89,300
|
73,300
|
|
Total assets
|
583,400
|
499,800
|
|
Total common stockholders' equity
|
430,400
|
320,600
|
Compute the following ratios for 2017.
Profit margin
Asset turnover
Return on assets
Return on common stockholders' equity