Need Accounting Question Solution A company has assets totaling $128,625, liabilities totaling $67,980,and net income for the period totaling $ $74,000. Calculate the returnon assets.A) 27%B) 92%C) 58%D) 74%Explain.

The formula to calculate Return on Assets (ROA) is:ROA = Net Income / Total AssetsGiven:Net Income =…

Answered: A company has assets totaling $128,625,…

EBK CONTEMPORARY FINANCIAL MANAGEMENT

14th Edition

ISBN:9781337514835

Author:MOYER

Publisher:MOYER

Chapter3: Evaluation Of Financial Performance

Section: Chapter Questions

Problem 19P

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A company reports the following income statement and balance sheet information for the current year: Line Item Description Amount Net income $390,000 Interest expense 60,000 Average total assets 4,500,000 Determine the return on total assets.

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A company has assets totaling $128,625, liabilities totaling $67,980, and net income for the period totaling $ $74,000. Calculate the return on assets. A) 27% B) 92% C) 58% D) 74% Explain.