Follies Bookstore, the Only Bookstore Close to Campus, Had Net

question 41

Essay

Follies Bookstore, the only bookstore close to campus, had net income in 20X5 of $90,000. Here are some of the financial ratios from the annual report.
Using these ratios, calculate the following for Follies Bookstore:
A) Sales
B) Total assets
C) Total asset turnover
D) Total debt
E) Shareholders' equity
F) Return on equity

• A) Sales
• B) Total assets
• C) Total asset turnover
• D) Total debt
• E) Shareholders' equity
• F) Return on equity

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