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Titus Corporation and Vane Corporation, two companies of roughly the same size, are both involved in the manufacture of shoe-tracing devices. Each company depreciates its plant assets using the straight-line approach. An investigation of their financial statements reveals the following information.

Titus Corp. Vane Corp.
- Net income $224,920 $335,190
- Sales 1,425,220 1,829,580
- Total assets (average) 3,968,860 3,314,820
- Plant assets (average) 2,638,820 1,862,820
- Intangible assets (goodwill) 340,140 0
Calculate: Return on assets ratio
- Profit margin
- Asset turnover ratio.

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Accounting Basics, Accounting

Category:- Accounting Basics
Reference No.:- M9974367

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