Multiple Choice18.3%.9.7%.47.6%.11.0%.Next >ww.Prey13 of 15 Excerpts from Hulkster Company's December 31, 2021 and 2020, financial statements are presented below20212020Accounts receivableMerchandise inventory$ 60,000$ 46,00038,000212,000134, 00055,000Net salesCost of goods soldTotal assetsTotal shareholders' equityNet income200,000118, 000415, 000235,000445, 000260,00047,50038,000Hulkster's 2021 return on assets is (rounded):Multiple Choice18.3%.< Prev13 of 15Next >

RETURN ON ASSET : = NET INCOME / TOTAL AVERAGE ASSETS

Excerpts from Hulkster Company's December 31, 2021 and 2020, financial statements are presented below. 2021 2020 Accounts receivable Merchandise inventory $ 60,000 $ 46,000 55, 000 38,000 Net sales 212,000 200,000 Cost of goods sold Total assets Total shareholders' equity Net income 118, 000 415, 000 235, 000 134,000 445, 000 260,000 47,500 38,000 Hulkster's 2021 return on assets is (rounded). Multiple Choice 18.3%.

Excerpts from Hulkster Company's December 31, 2021 and 2020, financial statements are presented below. 2021 2020 Accounts receivable Merchandise inventory $ 60,000 $ 46,000 55, 000 38,000 Net sales 212,000 200,000 Cost of goods sold Total assets Total shareholders' equity Net income 118, 000 415, 000 235, 000 134,000 445, 000 260,000 47,500 38,000 Hulkster's 2021 return on assets is (rounded). Multiple Choice 18.3%.

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

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