If a company's net income for the year is $100,000 andits total assets at the beginning of the year were$500,000, while its total assets at the end of the year were$600,000, what is the company's return on assets(ROA)?

Step 1: Find the average total assets.= (beginning total assets + ending total assets) / 2= (500,000…

Answered: If a company's net income for the year…

Managerial Accounting

15th Edition

ISBN:9781337912020

Author:Carl Warren, Ph.d. Cma William B. Tayler

Publisher:Carl Warren, Ph.d. Cma William B. Tayler

Chapter16: Financial Statement Analysis

Section: Chapter Questions

Problem 9BE

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If a company's net income for the year is $100,000 and its total assets at the beginning of the year were $500,000, while its total assets at the end of the year were $600,000, what is the company's return on assets (ROA)?