General accounting question A corporation reported $88 million in net income for the fiscalyear. The company's average total assets during the same periodwere $800 million.What is the return on assets (ROA)?

Step 1: Definition of Return on Assets (ROA)Return on Assets (ROA) is a financial ratio that…

Answered: A corporation reported $88 million in…

Managerial Accounting

15th Edition

ISBN:9781337912020

Author:Carl Warren, Ph.d. Cma William B. Tayler

Publisher:Carl Warren, Ph.d. Cma William B. Tayler

Chapter16: Financial Statement Analysis

Section: Chapter Questions

Problem 9BE

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A corporation reported $88 million in net income for the fiscal year. The company's average total assets during the same period were $800 million. What is the return on assets (ROA)?