A Company Had Net Income of $45,000, Net Sales of $390,000

question 158

Essay

A company had net income of $45,000, net sales of $390,000, and average total assets of $450,000 for the current year. Calculate the company's profit margin, total asset turnover, and return on total assets.

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Definitions:

Fluid Intelligence

The capacity to reason quickly and to think abstractly, often considered independent of learning, experience, and education.

Multiple Intelligences

describes a theory by Howard Gardner that suggests human intelligence is comprised of many distinct types, including logical-mathematical, linguistic, musical, spatial, bodily-kinesthetic, interpersonal, intrapersonal, and naturalist intelligences.

Bodily Kinesthetic

Refers to the ability to coordinate body movements and handle objects skillfully, often associated with physical intelligence.

General Intelligence

A theoretical construct suggesting the existence of a broad mental capacity that influences performance on cognitive ability tests.