Trend Percentages Net sales, net income, and total asset figures for Janice Controls, Inc., for...
90.2K
Verified Solution
Link Copied!
Question
Accounting
Trend Percentages Net sales, net income, and total asset figures for Janice Controls, Inc., for five consecutive years are given below (Janice manufactures pollution controls): Annual Amounts (Thousands of Dollars) Year 1 Year 2 Year 3 Year 4 Year 5 Net sales $72,000 $79,800 $85,275 $88,400 $94,700 Net income 3,200 3,650 4,000 4.250 4,790 Total assets 42,500 45,000 48,700 51,000 54,900 Required a. Calculate trend percentages, using Year 1 as the base year. b. Calculate the return on sales for each year. Round trend percentage answers to one decimal place (ex: 0.2345 = 23.5). Trend Percentages Year 1 Year 2 Year 3 Year 4 Year 5 Net sales Net income Total assets Round answers to 2 decimal places (ex: 0.02345 = 2.35%). Year 1 Year 2 Year 3 Year 4 Return on Sales 96 %6 Year 5 %
Answer & Explanation
Solved by verified expert
Get Answers to Unlimited Questions
Join us to gain access to millions of questions and expert answers. Enjoy exclusive benefits tailored just for you!
Membership Benefits:
Unlimited Question Access with detailed Answers
Zin AI - 3 Million Words
10 Dall-E 3 Images
20 Plot Generations
Conversation with Dialogue Memory
No Ads, Ever!
Access to Our Best AI Platform: Flex AI - Your personal assistant for all your inquiries!
