6 of 10 6 Peytons Palace has net income of 10 million on sal

6 (of 10) 6. Peyton\'s Palace has net income of $10 million on sales revenue of $130 million. Total assets were $66 million at the beginning of the year and $98 million at the end of the year Calculate Peyton\'s return on assets, profit margin, and asset turnover ratios. (Round your answers to 2 decimal places. Omit the \"%\" sign in your response.) turn on assets Proft margin Profit margin t turnover es

Solution

Current Ratio = Current Assets / Current Liabilities

Here, total current assets = 535

Total Current Liabilities = 328

Therefore, Current Ratio = 535/328

= 1.63 times

Current Ratio = 1.63 Times