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Assume MetAmbit Corporation had a net income of $2,500 for the year ending December 2016. Its beginning and ending total assets were $35,500 and $20,500, respectively. Calculate MetAmbit's return on assets (ROA). A. 12.20% B. 8.93% C. 7.04% D. 4.46%

Assume MetAmbit Corporation had a net income of $2,500 for the year ending December 2016. Its beginning and ending total assets were $35,500 and $20,500, respectively. Calculate MetAmbit's return on assets (ROA). A. 12.20% B. 8.93% C. 7.04% D. 4.46%

FINANCIAL ACCOUNTING
FINANCIAL ACCOUNTING
10th Edition
ISBN:9781259964947
Author:Libby
Publisher:Libby
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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Assume MetAmbit Corporation had a net income of $2,500 for the year ending December 2016. Its beginning and ending total assets were $35,500 and $20,500, respectively. Calculate MetAmbit's return on assets (ROA). A. 12.20% B. 8.93% C. 7.04% D. 4.46%
Transcribed Image Text:Assume MetAmbit Corporation had a net income of $2,500 for the year ending December 2016. Its beginning and ending total assets were $35,500 and $20,500, respectively. Calculate MetAmbit's return on assets (ROA). A. 12.20% B. 8.93% C. 7.04% D. 4.46%
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