Cheyenne Corporation and Culver Corporation, two companies of roughly the same size, are both involved in the manufacture of shoe-tracing devices. Each company depreciates its plant assets using the straight-line approach. An investigation of their financial statements reveals the information shown below. Net income Sales revenue Total assets (average) Plant assets (average) Intangible assets (goodwill) (a) Cheyenne Corp. $ 246,600 1,644,000 4,110,000 2,800,000 356,100 Culver Corp. $343,530 1,908,500 3,817,000 1,846,000 0 For each company, calculate these values: (Round return on assets and profit margin to 1 decimal place, e.g. 6.2% and asset turnover to decimal places, e.g. 17.54.)

Cheyenne Corporation and Culver Corporation, two companies of roughly the same size, are both involved in the manufacture of shoe-tracing devices. Each company depreciates its plant assets using the straight-line approach. An investigation of their financial statements reveals the information shown below. Net income Sales revenue Total assets (average) Plant assets (average) Intangible assets (goodwill) (a) Cheyenne Corp. $ 246,600 1,644,000 4,110,000 2,800,000 356,100 Culver Corp. $343,530 1,908,500 3,817,000 1,846,000 0 For each company, calculate these values: (Round return on assets and profit margin to 1 decimal place, e.g. 6.2% and asset turnover to decimal places, e.g. 17.54.)

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

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