Using the following data for Hayes, Inc., compute its asset turnover ratio and the return on assets ratio. $\begin{array}{lr}
\quad\quad\quad\quad\quad\quad\text { \underline{\text{Hayes, Inc. }} } \
\text { Net Income 2014 } & \$ 123,000 \
\text { Total Assets 12/31/14 } & 2,243,000 \
\text { Total Assets 12/31/13 } & 1,880,000 \
\text { Net Sales 2014 } & 2,135,000
\end{array}$

Question

Using the following data for Hayes, Inc., compute its asset turnover ratio and the return on assets ratio. $\begin{array}{lr}
\quad\quad\quad\quad\quad\quad\text { \underline{\text{Hayes, Inc.  }}  } \
\text { Net Income 2014 } & \$ 123,000 \
\text { Total Assets 12/31/14 } & 2,243,000 \
\text { Total Assets 12/31/13 } & 1,880,000 \
\text { Net Sales 2014 } & 2,135,000
\end{array}$

Quizplus · Accepted Answer

The Answer of Using the following data for Hayes, Inc., compute its asset turnover ratio and the return on assets ratio. $\begin{array}{lr}
\quad\quad\quad\quad\quad\quad\text { \underline{\text{Hayes, Inc.  }}  } \
\text { Net Income 2014 } & \$ 123,000 \
\text { Total Assets 12/31/14 } & 2,243,000 \
\text { Total Assets 12/31/13 } & 1,880,000 \
\text { Net Sales 2014 } & 2,135,000
\end{array}$

Using the Following Data for Hayes, Inc