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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...
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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%
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