Zoogle has the following selected data ($ in millions): (Round your answers to 2 decimal place. Enter your answers in millions (i. e., $10,110,000 should be entered as 10.11).)
Net sales $ 23,451
Net income 6,500
Operating cash flows 9,314
Total assets, beginning 29,768
Total assets, ending 38,497
Required:
1. Calculate the return on assets. ($ in millions)
2. Calculate the cash return on assets. ($ in millions)
3. Calculate the cash flow to sales ratio and the asset turnover ratio. ($ in millions)

Answer and Explanation:

The computation is shown below:

1. The Return on assets is  

Return on assets = (Net income) ÷ (average of total assets)

where,  

Net income is $6,500

Average total assets = (Beginning total assets + ending total assets) ÷ 2

= ($29,768 + $38,497) ÷ 2

= $34,132.50

Now put these values to the above formula  

So, the return on asset is

= $6,500 ÷ $34,132.50

= 19.04

2. Cash Return on assets is

= Operating cash flows  ÷Average total assets

= $9,314 ÷ $34,132.50

= 27.29%  

3 Cash flow to sales ratio is

= Operating Cash Flow ÷ Net sales  

= 9,314 ÷ $23,451

= 39.72%

And, Asset turnover ratio is

= Net sales ÷Average total assets  

= $23,451 ÷ $34,132.50

= 0.68 times

i believe that it is a 45% chance.

c.

explanation:

regressive tax taxes the poor and less of the wealthy. this the rich get richer and the poor get more poor. this would create a large wealth gap.