19. Using the following information, calculate the return on assets.Net income for NovemberTotal assets, November 15,00076,000Total assets, November 3080,250...Identify the formula and then solve for return on assets (ROA). (Round the ROA to the nearest tenth percent, X.X%.)÷ROA%

Return on assets is the financial ratio to find out the profitability generated by total assets. It…

19. Using the following information, calculate the return on assets. Net income for November 5,000 Total assets, November 1 76,000 Total assets, November 30 80,250 Identify the formula and then solve for return on assets (ROA). (Round the ROA to the nearest tenth percent, X.X%.) + + ROA %

19. Using the following information, calculate the return on assets. Net income for November 5,000 Total assets, November 1 76,000 Total assets, November 30 80,250 Identify the formula and then solve for return on assets (ROA). (Round the ROA to the nearest tenth percent, X.X%.) + + ROA %

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

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Question

19. Using the following information, calculate the return on assets.
Net income for November
Total assets, November 1
5,000
76,000
Total assets, November 30
80,250
...
Identify the formula and then solve for return on assets (ROA). (Round the ROA to the nearest tenth percent, X.X%.)
÷
ROA
%

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