What is its return on assets and inventory turnover

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Reference no: EM13855303

1. If a firm’s net income (profit before taxes) is $360,000 and it has total assets of $1.2 million, what is its return on assets?

Please provide the formula for calculating return-on-assets, at least one step of calculation, and the answer.

2. If a firm’s cost of goods sold is $2.5 million and its average inventory is $800,000, what is the inventory turnover?

Please provide the formula for calculating return-on-assets, at least one step of calculation, and the answer.

Reference no: EM13855303

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