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
icon
Related questions
Question
Multiple Choice
18.3%.
9.7%.
47.6%.
11.0%.
Next >
ww.
Prey
13 of 15
Transcribed Image Text:Multiple Choice 18.3%. 9.7%. 47.6%. 11.0%. Next > ww. Prey 13 of 15
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
38,000
212,000
134, 000
55,000
Net sales
Cost of goods sold
Total assets
Total shareholders' equity
Net income
200,000
118, 000
415, 000
235,000
445, 000
260,000
47,500
38,000
Hulkster's 2021 return on assets is (rounded):
Multiple Choice
18.3%.
< Prev
13 of 15
Next >
Transcribed Image Text: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 38,000 212,000 134, 000 55,000 Net sales Cost of goods sold Total assets Total shareholders' equity Net income 200,000 118, 000 415, 000 235,000 445, 000 260,000 47,500 38,000 Hulkster's 2021 return on assets is (rounded): Multiple Choice 18.3%. < Prev 13 of 15 Next >
Expert Solution
trending now

Trending now

This is a popular solution!

steps

Step by step

Solved in 2 steps

Blurred answer
Knowledge Booster
Financial Reporting in Hyperinflationary Economies
Learn more about
Need a deep-dive on the concept behind this application? Look no further. Learn more about this topic, accounting and related others by exploring similar questions and additional content below.
Similar questions
  • SEE MORE QUESTIONS
Recommended textbooks for you
FINANCIAL ACCOUNTING
FINANCIAL ACCOUNTING
Accounting
ISBN:
9781259964947
Author:
Libby
Publisher:
MCG
Accounting
Accounting
Accounting
ISBN:
9781337272094
Author:
WARREN, Carl S., Reeve, James M., Duchac, Jonathan E.
Publisher:
Cengage Learning,
Accounting Information Systems
Accounting Information Systems
Accounting
ISBN:
9781337619202
Author:
Hall, James A.
Publisher:
Cengage Learning,
Horngren's Cost Accounting: A Managerial Emphasis…
Horngren's Cost Accounting: A Managerial Emphasis…
Accounting
ISBN:
9780134475585
Author:
Srikant M. Datar, Madhav V. Rajan
Publisher:
PEARSON
Intermediate Accounting
Intermediate Accounting
Accounting
ISBN:
9781259722660
Author:
J. David Spiceland, Mark W. Nelson, Wayne M Thomas
Publisher:
McGraw-Hill Education
Financial and Managerial Accounting
Financial and Managerial Accounting
Accounting
ISBN:
9781259726705
Author:
John J Wild, Ken W. Shaw, Barbara Chiappetta Fundamental Accounting Principles
Publisher:
McGraw-Hill Education