RECOMMENDED!!Selected comparative statement data for Tyrone

  

Selected comparative statement data for Tyrone Company are presented below. All balance sheet data are as of December 31. _2017 2016_Net sales $1,160,000 $1,120,000Cost of goods sold 700,000 640,000Interest expense 15,000 10,000Net income 150,000 140,000Accounts receivable 140,000 120,000Inventory 100,000 95,000Total assets 780,000 700,000Preferred stock (6%) 200,000 200,000Total stockholders’ equity 630,000 525,000InstructionsCompute the following ratios for 2017.(a) Profit margin.(b) Asset turnover.(c) Return on assets.(d) Return on common stockholders’ equity

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