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A company reports net sales of $6.3 million, net income (profit) of $756,000, and a total asset turnover of 2.1 times. What is the company's Return on Assets (ROA)? a) 18% b) 12% c) 25% d) 16%

A company reports net sales of $6.3 million, net income (profit) of $756,000, and a total asset turnover of 2.1 times. What is the company's Return on Assets (ROA)? a) 18% b) 12% c) 25% d) 16%

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 reports net sales of $6.3 million, net income (profit) of $756,000, and a total asset turnover of 2.1 times. What is the company's Return on Assets (ROA)? a) 18% b) 12% c) 25% d) 16%
Transcribed Image Text:A company reports net sales of $6.3 million, net income (profit) of $756,000, and a total asset turnover of 2.1 times. What is the company's Return on Assets (ROA)? a) 18% b) 12% c) 25% d) 16%
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