A company reports net income of $8,000, sales revenue of $18,000, and average total assets of $24,000. Calculate the company's return on assets. a. 44 percent (rounded) b. 33 percent (rounded) c. 75 percent (rounded) d. There is insufficient information to calculate this ratio.

A company reports net income of $8,000, sales revenue of $18,000, and average total assets of $24,000. Calculate the company's return on assets. a. 44 percent (rounded) b. 33 percent (rounded) c. 75 percent (rounded) d. There is insufficient information to calculate this ratio.

Managerial Accounting: The Cornerstone of Business Decision-Making

7th Edition

ISBN:9781337115773

Author:Maryanne M. Mowen, Don R. Hansen, Dan L. Heitger

Publisher:Maryanne M. Mowen, Don R. Hansen, Dan L. Heitger

Chapter15: Financial Statement Analysis

Section: Chapter Questions

Problem 51E: Juroe Company provided the following income statement for last year: Juroes balance sheet as of...

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A company reports net income of $8,000, sales revenue of $18,000, and
average total assets of $24,000. Calculate the company's return on
assets.
a. 44 percent (rounded)
b. 33 percent (rounded)
c. 75 percent (rounded)
d. There is insufficient information to calculate this ratio.

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