For a recent year L’Oréal reported operating profit of €3,385 (in millions) for its Cosmetics division. Total assets were €12,888 (in millions) at the beginning of the year and €13,099 (in millions) at the end of the year. Compute return on investment for the year. (Enter answer in millions and round your answers to nearest whole number.)

For a recent year L’Oréal reported operating profit of €3,385 (in millions) for its Cosmetics division. Total assets were €12,888 (in millions) at the beginning of the year and €13,099 (in millions) at the end of the year. Compute return on investment for the year. (Enter answer in millions and round your answers to nearest whole number.)

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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QS 22-19 Return on investment LO A1

For a recent year L’Oréal reported operating profit of €3,385 (in millions) for its Cosmetics division. Total assets were €12,888 (in millions) at the beginning of the year and €13,099 (in millions) at the end of the year. Compute return on investment for the year. (Enter answer in millions and round your answers to nearest whole number.)

Formula Formula ROI (%) = Net Income Principal Amount × 100

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