Income statement and partial balance sheet
Use return on assets to determine whether or not the company was profitable. Begin by identifying the formula to calculate return on assets.
Compute the return on assets for the year ended January 31, 2020. (Round to one decimal place.)
The return on assets for the year ended January 31, 2020, is â—»%.
Compute the return on assets for the year ended January 31, 2019. (Round to one decimal place.)
The return on assets for the year ended January 31, 2019, is â—»%.
What factors contributed to the change in return on assets during the year? (Only complete the necessary answer boxes.)
Violet Corporation: (Click the icon to view the incon
ing January 31, 2020
Income statement and partial balance sheet
Requirement Using the facts provided, identify or calculate the information that is relevant to each piece is relevant to your decision
Violet Corporation
Income Statement (Adapted)
Calculate return on assets
For the years ended Jan 31, Jan 31, Jan 31, (in millions) 2020 2019 2018 Total net revenue 60,000 58,000$ 56,000 Cost of revenue 21,000 20,300 19,600 34,190 33,306 32,420 Selling, general, and administrative Operating income or loss 4,810 4,394 3,980 Other revenue (expense) (760) (870) (860) 4,050 3,524 3,120 (1,050) (914) (720 Income tax expense 3,000 2,610 Is 2,400 Net income
Return on assets (ROA)
Compute the return on assets for the year ended January 31, 2020. (Round to one decimal place.)
The return on assets for the year ended January 31, 2020, is %
Compute the return on assets for the year ended January 31, 2019. (Round to one decimal place.) The return on assets for the year ended January 31, 2019, is %
What factors contributed to the change in return on assets during the year? (Only complete the necessary answer boxes.)
Violet Corporation
Partial Balance Sheet (Condensed)
Jan 31, Jan 31, 2020 2019 2018 7,050 40,260 23,290 25,200 25,700 25,000 910 88C 870 33,160 66,840 49,160
Total current assets
Property, plant, and equipment
Other assets
Total assets
Print
BHR]