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Beethoven Corp. reported net sales of $1,200,000 and net income of $96,000. The company had average current assets of $60,000, average fixed assets of $240,000, and average total assets of $300,000. What is Beethoven Corp.'s return on assets (ROA)?

Beethoven Corp. reported net sales of $1,200,000 and net income of $96,000. The company had average current assets of $60,000, average fixed assets of $240,000, and average total assets of $300,000. What is Beethoven Corp.'s return on assets (ROA)?

Managerial Accounting: The Cornerstone of Business Decision-Making
Managerial Accounting: The Cornerstone of Business Decision-Making
7th Edition
ISBN:9781337115773
Author:Maryanne M. Mowen, Don R. Hansen, Dan L. Heitger
Publisher:Maryanne M. Mowen, Don R. Hansen, Dan L. Heitger
Chapter15: Financial Statement Analysis
Section: Chapter Questions
Problem 6MCQ
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Beethoven Corp. reported net sales of $1,200,000 and net income of $96,000. The company had average current assets of $60,000, average fixed assets of $240,000, and average total assets of $300,000. What is Beethoven Corp.'s return on assets (ROA)?
Transcribed Image Text:Beethoven Corp. reported net sales of $1,200,000 and net income of $96,000. The company had average current assets of $60,000, average fixed assets of $240,000, and average total assets of $300,000. What is Beethoven Corp.'s return on assets (ROA)?
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