Homework Help is Here – Start Your Trial Now!
Business
Accounting
ABC Company's net income and net sales are $48,000 and $2,400,000 respectively, and the average total assets are $300,000. What is ABC Company's return on assets? a) 12% b) 16% c) 18% d) 20%

ABC Company's net income and net sales are $48,000 and $2,400,000 respectively, and the average total assets are $300,000. What is ABC Company's return on assets? a) 12% b) 16% c) 18% d) 20%

Intermediate Accounting: Reporting And Analysis
Intermediate Accounting: Reporting And Analysis
3rd Edition
ISBN:9781337788281
Author:James M. Wahlen, Jefferson P. Jones, Donald Pagach
Publisher:James M. Wahlen, Jefferson P. Jones, Donald Pagach
Chapter5: The Income Statement And The Statement Of Cash Flows
Section: Chapter Questions
Problem 1RE: Brandt Corporation had sales revenue of 500,000 for the current year. For the year, its cost of...
See similar textbooks
icon
Related questions
Question

Hello teacher please help me Accounting question solution

ABC Company's net income and net sales are $48,000 and $2,400,000 respectively, and the average total assets are $300,000. What is ABC Company's return on assets? a) 12% b) 16% c) 18% d) 20%
Transcribed Image Text:ABC Company's net income and net sales are $48,000 and $2,400,000 respectively, and the average total assets are $300,000. What is ABC Company's return on assets? a) 12% b) 16% c) 18% d) 20%
Expert Solution
steps

Step by step

Solved in 2 steps

SEE SOLUTIONCheck out a sample Q&A here
Blurred answer
Similar questions
  • SEE MORE QUESTIONS
Recommended textbooks for you
Intermediate Accounting: Reporting And Analysis
Intermediate Accounting: Reporting And Analysis
Accounting
ISBN:
9781337788281
Author:
James M. Wahlen, Jefferson P. Jones, Donald Pagach
Publisher:
Cengage Learning
SEE MORE TEXTBOOKS