1)Mechforce manufacturing's net income was $420,000 on sales of $14 million

Accounting Jan 21, 2021

1)Mechforce manufacturing's net income was $420,000 on sales of $14 million. Average assets for the year were $10 million. Turnover for the year was:

2)Yellowday Energy's margin was 3% and turnover was 4.0 on sales of $50 million for the year. Net income for the year was:

Expert Solution

1	Turnover = Net Sales / Average Assets
	Net Income = $ 14 million
	Average Assets = $ 10 million

	Turnover = $ 14 million / $ 10 million
	Turnover = 1.4 times


2	Net Income = Margin * Sales
	Margin = 3%
	Sales = $ 50 million

	Net Income = 3% of $ 50 million
	Net Income = $ 1.5 million
	Net Income = $ 1,500,000

	Thank You!

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