Cranberry Valley Corporation reports total assets of $850,000 at the beginning of the year and $1,050,000 at the end of the year. The net income for the year is $120,000. What is Cranberry Valley Corporation's return on assets?

Cranberry Valley Corporation reports total assets of $850,000 at the beginning of the year and $1,050,000 at the end of the year. The net income for the year is $120,000. What is Cranberry Valley Corporation's return on assets?

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 52E: Juroe Company provided the following income statement for last year: Juroes balance sheet as of...

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Question

Get correct solution this general accounting question

Cranberry Valley Corporation reports total assets of $850,000 at the
beginning of the year and $1,050,000 at the end of the year. The net
income for the year is $120,000.
What is Cranberry Valley Corporation's return on assets?

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