The Financial Statements of Snapit Company Are Given Below

question 84

Multiple Choice

The financial statements of Snapit Company are given below. Note: The common shares are trading in the stock market for $100 each.
Refer to the financial statements of Snapit Company. The firm's return on sales ratio for 2009 is

• A) 0.0133.
• B) 0.1325.
• C) 1.325.
• D) 1.260.

---

Definitions:

Financial Statements

Papers that give a summary of a corporation's financial status, featuring the balance sheet, income statement, and statement of cash flows.

Fiscal Year

A 12-month period used for accounting purposes that may not coincide with the calendar year.

Lifetime Operations

The entire period during which an entity or project is expected to operate or function, from inception to completion or cessation.

Adjusted Trial Balance

A compilation of all accounts along with their balances, updated after adjustment entries, which is utilized for the creation of financial reports.