Need correct answer financial accounting question Coastal Renewable Energy had a net income for the month of Novemberof $64,320. Assets as of the beginning and end of the month totaled$420,000 and $540,000, respectively. Calculate Coastal RenewableEnergy's Return on Assets (ROA) for the month of November.

Step 1: Calculate average total assetsStep 2: Apply the ROA formula

Answered: Coastal Renewable Energy had a net…

Principles of Accounting Volume 2

19th Edition

ISBN:9781947172609

Author:OpenStax

Publisher:OpenStax

Chapter12: Balanced Scorecard And Other Performance Measures

Section: Chapter Questions

Problem 6EA: During the current year, Sokowski Manufacturing earned income of $350,000 from total sales of...

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Coastal Renewable Energy had a net income for the month of November of $64,320. Assets as of the beginning and end of the month totaled $420,000 and $540,000, respectively. Calculate Coastal Renewable Energy's Return on Assets (ROA) for the month of November.