Business, 17.12.2021 03:10 imichaelc1oy5t8i

Roak Company and Clay Company are similar firms that operate in the same industry. Clay began operations 2 years ago and Roak started 5 years ago. In the current year, both companies pay 6% interest on their debt to creditors. The following additional information is available. Roak Company Clay Company Current Year 1 Year Ago 2 Years Ago Current Year 1 Year Ago 2 Years Ago Total asset turnover 3.1 2.8 3.0 1.7 1.5 1.1 Return on total assets 7.4% 7.0% 6.9% 4.8% 4.5% 3.2% Profit margin ratio 2.4% 2.5% 2.3% 2.8% 3.0% 2.9% Sales $410,000 $380,000 $396,000 $210,000 $170,000 $110,000 1. (a) Which company has the better profit margin

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Roak Company and Clay Company are similar firms that operate in the same industry. Clay began operat...