Halifax Company had net income of $37,843 in Year 1 and $43,876 in Year 2.Its net sales were $319,483 in Year 1 and $305,415 in Year 2.Its average total assets in Year 1 were $334,890 and $356,132 in Year 2.Calculate the profit margin,total asset turnover,and return on total assets for both years.Comment on the results.

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The Answer of Halifax Company had net income of $37,843 in Year 1 and $43,876 in Year 2.Its net sales were $319,483 in Year 1 and $305,415 in Year 2.Its average total assets in Year 1 were $334,890 and $356,132 in Year 2.Calculate the profit margin,total asset turnover,and return on total assets for both years.Comment on the results.

Halifax Company Had Net Income of $37,843 in Year 1