Solve my problem Highland Industries reports beginning assets of $240,000, ending assets of$300,000, net sales of $625,000, and net income of $51,000. What is the returnon assets?

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

Answered: Highland Industries reports beginning…

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 6MCQ

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Highland Industries reports beginning assets of $240,000, ending assets of $300,000, net sales of $625,000, and net income of $51,000. What is the return on assets?