FreshMart, one of the largest grocery retailers in Canada, is headquartered in Toronto. Suppose the following financial information (in millions) was taken from the company's 2022 annual report: net sales $42,890, net income $415, beginning total assets $12,500, and ending total assets $13,300. Calculate Fresh Mart's return on assets (ROA) for the year.

FreshMart, one of the largest grocery retailers in Canada, is headquartered in Toronto. Suppose the following financial information (in millions) was taken from the company's 2022 annual report: net sales $42,890, net income $415, beginning total assets $12,500, and ending total assets $13,300. Calculate Fresh Mart's return on assets (ROA) for the year.

Managerial Accounting: The Cornerstone of Business Decision-Making

7th Edition

ISBN:9781337115773

Author:Maryanne M. Mowen, Don R. Hansen, Dan L. Heitger

Publisher:Maryanne M. Mowen, Don R. Hansen, Dan L. Heitger

Chapter15: Financial Statement Analysis

Section: Chapter Questions

Problem 51E: Juroe Company provided the following income statement for last year: Juroes balance sheet as of...

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