Please provide correct answer accounting question not use ai.. Flanders Company's operating income for the currentyear was $475,000. The company's average total assetsfor the same period were $3,500,000. and its totalliabilities were $1,000,000.Calculate the company's return on assets.

Step 1: Define Financial RatiosFinancial ratios are indicators of a financial performance of a…

Answered: Flanders Company's operating income for…

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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Flanders Company's operating income for the current year was $475,000. The company's average total assets for the same period were $3,500,000. and its total liabilities were $1,000,000. Calculate the company's return on assets.