Question: exercise 1310 partially correct answer your answer is partially correct...
Partially correct answer.
Your answer is partially correct.
Suppose selected comparative statement data for the giant bookseller Barnes & Noble are presented here.
All balance sheet data are as of the end of the fiscal year (in millions).
Net sales $5,050 $4,900
Cost of goods sold 3,300 4,201
Net income 65 100
Accounts receivable 75 102
Inventory 1,150 1,250
Total assets 2,850 3,150
Total common stockholders’ equity 900 1,141
Compute the following ratios for 2017. (Round asset turnover to 2 decimal places, e.g 1.83 and all other answers to 1 decimal place, e.g. 1.8 or 2.5%)
(a) Profit margin Entry field with correct answer 1.3 %
(b) Asset turnover Entry field with correct answer 1.68 times
(c) Return on assets Entry field with correct answer 2.3 %
(d) Return on common stockholders’ equity Entry field with incorrect answer 1.6 %
(e) Gross profit rate Entry field with correct answer 34.7 %