What was Cal's ROA on these accounting question? Cal Cycle Sales has an inventory of $100,000 in bikesand accessories for sale. His sales for the year totaled$200,000. During the year, he paid $20,000 inbuilding rent and utilities, $25,000 to his assistantwho does repairs, and $125,000 for the bikes he sold.What was Cal's ROA?

Step 1: Define Return on AssetsReturn on assets ratio is a profitability ratio that determines how…

Answered: Cal Cycle Sales has an inventory of…

SWFT Individual Income Taxes

43rd Edition

ISBN:9780357391365

Author:YOUNG

Publisher:YOUNG

Chapter16: Property Transactions: Capital Gains And Losses

Section: Chapter Questions

Problem 19P

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Cal Cycle Sales has an inventory of $100,000 in bikes and accessories for sale. His sales for the year totaled $200,000. During the year, he paid $20,000 in building rent and utilities, $25,000 to his assistant who does repairs, and $125,000 for the bikes he sold. What was Cal's ROA?