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12-12-2022
Mathematics

Answered

Using the income statement below, calculate the following profitability ratios for Western Bookkeeping and Tax Service. Assume that stockholder's equity equals $441,600 and total assets equal $640,000.
Profit margin ratio
Return on equity ratio
Asset turnover ratio
Write the profit margin and return on equity ratios as a percent, rounded to the nearest percent. Write the asset turnover ratio as a decimal, rounded to two decimal places.

Using the income statement below calculate the following profitability ratios for Western Bookkeeping and Tax Service Assume that stockholders equity equals 441 class=

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