Question :
Follies Bookstore, the only bookstore close to campus, had a net income of $90,000 in 2009. Here are some of the financial ratios from the annual report.
Profit Margin 12%
Return on Assets 20%
Debt to Asset Ratio 55%
Using these ratios, calculate the following for Follies Bookstore:
a. Sales
b. Total assets
c. Total asset turnover
d. Total debt
e. Stockholders'' equity
f. Return on equity