What is the return on assets? Please given correct answer general accounting Gold Star Restaurant has annual sales of $9,200, total debt of$2,600, total equity of $3,800, and a profit margin of 7%.What is the return on assets?

Step 1: Definition of Return on Assets (ROA)Return on Assets (ROA) is a financial ratio that…

Answered: Gold Star Restaurant has annual sales…

EBK CONTEMPORARY FINANCIAL MANAGEMENT

14th Edition

ISBN:9781337514835

Author:MOYER

Publisher:MOYER

Chapter3: Evaluation Of Financial Performance

Section: Chapter Questions

Problem 2P

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Gold Star Restaurant has annual sales of $9,200, total debt of $2,600, total equity of $3,800, and a profit margin of 7%. What is the return on assets?