During 2009, Ritter Corporation reported: Net sales 30,000,000 Beginning total assets 12,000,000 Net earnings 1,500,000 Ending total assets 20,000,000 Depreciation expense 400,000 Property, plant, equipment 8,000,000 Accumulated depreciation 2,000,000 Ritter's return on assets is: a. 7.5% b. 9.4% c. 12.5% d. 7.9%
During 2009, Ritter Corporation reported: Net sales 30,000,000 Beginning total assets 12,000,000 Net earnings 1,500,000 Ending total assets 20,000,000 Depreciation expense 400,000 Property, plant, equipment 8,000,000 Accumulated depreciation 2,000,000 Ritter's return on assets is: a. 7.5% b. 9.4% c. 12.5% d. 7.9%
Chapter3: Evaluation Of Financial Performance
Section: Chapter Questions
Problem 19P
Related questions
Question
100%
During 2009, Ritter Corporation reported
Transcribed Image Text:During 2009, Ritter Corporation reported:
Net sales
30,000,000
Beginning total assets
12,000,000
Net earnings
1,500,000
Ending total assets
20,000,000
Depreciation expense
400,000
Property, plant, equipment 8,000,000
Accumulated depreciation 2,000,000
Ritter's return on assets is:
a. 7.5%
b. 9.4%
c. 12.5%
d. 7.9%
Expert Solution
This question has been solved!
Explore an expertly crafted, step-by-step solution for a thorough understanding of key concepts.
Step by step
Solved in 2 steps
Recommended textbooks for you
EBK CONTEMPORARY FINANCIAL MANAGEMENT
Finance
ISBN:
9781337514835
Author:
MOYER
Publisher:
CENGAGE LEARNING - CONSIGNMENT
Survey of Accounting (Accounting I)
Accounting
ISBN:
9781305961883
Author:
Carl Warren
Publisher:
Cengage Learning
EBK CONTEMPORARY FINANCIAL MANAGEMENT
Finance
ISBN:
9781337514835
Author:
MOYER
Publisher:
CENGAGE LEARNING - CONSIGNMENT
Survey of Accounting (Accounting I)
Accounting
ISBN:
9781305961883
Author:
Carl Warren
Publisher:
Cengage Learning