(Profitability analysis) The R. M. Smithers Corporation earned an operating peofin margin of 10.6 percent...
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(Profitability analysis) The R. M. Smithers Corporation earned an operating peofin margin of 10.6 percent based on sales of 510.8millon and total assets of $4.6 mallion last year a. What was Smithers' total asset turnover ratio? b. During the coming year, the company's president has set a goal of attaining a total asset turnovet of 3.3. How much must frin sales increase, other things being the same. for the goal to be achieved? (State your answer in both dollars and the corresponding percent increase in sales) c. What was Smithers' operating retum on assets last year? Assuming the firmis operating profit margin remains the same. what wil the operating return on assets be next year it the total asset turnover goal is achieved
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