The 2021 income statement for Anderson TV and Appliance reported net sales of $250,000 and...
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The 2021 income statement for Anderson TV and Appliance reported net sales of $250,000 and net income of $90,000. Average total assets for 2021 was $400,000. Shareholders' equity at the beginning of the year was $300,000 and $30,000 was paid to shareholders as dividends. There were no other shareholders' equity transactions that occurred during the year. Calculate the profit margin on sales, return on assets, and return on equity for 2021. Profit Margin (%) Choose Numerator: 1 Choose Denominator: Profit Margin = Profit Margin Return on Assets (%) Choose Numerator: 1 Choose Denominator: Return on Assets Return on assets Return on Equity_(%) Choose Numerator: 1 Choose Denominator: Return on Equity Return on equity
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