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Problem - Measures of Performance and Financial Leverage
Following are selected data from year-end financial statements of Nelox Corporation for 2014 and 2013.
2014
2013
Total Assets
7,349,000
6,553,000
Interest Expenses
115,000
102,000
Long-term liabilities
1,220,000
1,239,000
Net Income
619,000
563,000
Sales
8,196,000
6,996,000
Stockerholder's Equity
3,624,000
3,221,000
Required -
a. Compute the following performance measurement ratios for 2014. (Round computations to three decimal places and ignore income taxes.)
1. Asset turnover
2. Return on sales
3. Return on assets
4. Return on equity
b. Is Nelox Company using financial leverage? If so, is the leverage favorable or unfavorable? Explain.
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