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Tomm Tomm
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6 years ago
Flynn's Corners Company (Flynn's) operates a large quarry in Central Ontario. Selected data from Flynn's for the year ended December 31, 2013 are presented below:

Total assets   $1,600,000
Average total assets   1,500,000
Net earnings   123,200
Net sales   1,200,000
Average common shareholders' equity   1,000,000
Net cash provided by operating activities   280,000

   Required:
   1. Calculate the profit margin and return on assets for Flynn's for the year ended December 31, 2013.
   2. Comment on the ratios you prepared in part 1 assuming the following averages for the quarry industry:   
   Profit margin — 8%
   Return on Assets — 14%
Textbook 
Financial Accounting, Canadian Edition

Financial Accounting, Canadian Edition


Edition: 5th
Authors:
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ACC 925
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TheSinTheSin
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6 years ago
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Tomm Author
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6 years ago
Smart ... Thanks!
Butwhy
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Yesterday
Good timing, thanks!
julymontalvo
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2 hours ago
You make an excellent tutor!
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