Canberry Corporation had a net income of $80,000, beginning with total assets of $640,000 and ending with total assets of $580,000. Its return on total assets is: A. 13.1% B. 12.5% C. 13.8% D. 800% E. 725%

Canberry Corporation had a net income of $80,000, beginning with total assets of $640,000 and ending with total assets of $580,000. Its return on total assets is: A. 13.1% B. 12.5% C. 13.8% D. 800% E. 725%

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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Question

provide correct answer financial accounting

Canberry Corporation had a net income of $80,000,
beginning with total assets of $640,000 and ending with
total assets of $580,000.
Its return on total assets is:
A. 13.1%
B. 12.5%
C. 13.8%
D. 800%
E. 725%

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