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A company has net sales of $15 million, a profit of $900,000, and a total asset turnover of 2.5 times. What is the Return on Assets (ROA)? a) 6% b) 10% c) 15% d) 24%

A company has net sales of $15 million, a profit of $900,000, and a total asset turnover of 2.5 times. What is the Return on Assets (ROA)? a) 6% b) 10% c) 15% d) 24%

EBK CONTEMPORARY FINANCIAL MANAGEMENT
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 has net sales of $15 million, a profit of $900,000, and a total asset turnover of 2.5 times. What is the Return on Assets (ROA)? a) 6% b) 10% c) 15% d) 24%
Transcribed Image Text:A company has net sales of $15 million, a profit of $900,000, and a total asset turnover of 2.5 times. What is the Return on Assets (ROA)? a) 6% b) 10% c) 15% d) 24%
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