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ACC 280 Brief Exercise 15-10 McLaren Corporation has net income of 11.44 million and net revenue

ACC 280 Brief Exercise 15-10 McLaren Corporation has net income of 11.44 million and net revenue

Principles of Accounting: Weygandt, J. J., Kimmel, P. D., & Kieso, D. E. (2008). Financial Accounting (6th ed.). Hoboken, NJ: Wiley.
Axia College of University of Phoenix (UoP)

ACC 280  BE15-10 McLaren Corporation
 

Brief Exercise 15-10 McLaren Corporation has net income of $11.44 million and net revenue of $80 million in 2008. Its assets are $14 million at the beginning of the year and $18 million at the end of the year.
What are McLaren’s
(a) asset turnover and
(b) profit margin?                                                                                           

SOLUTION