Peytons palace has net income of 144 million on sales, Accounting Basics

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Peytons palace has net income of 144 million on sales

Problem

Peyton's Palace has net income of $14.4 million on sales revenue of $124 million. Total assets were $90 million at the beginning of the year and $98 million at the end of the year.

Calculate Peyton's return on assets, profit margin, and asset turnover ratios.

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Accounting Basics: Peytons palace has net income of 144 million on sales

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Accounting Basics: Peytons palace has net income of 144 million on sales

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