In 2020, Shields Inc. had Net Sales of $500,000 and Net Income of $120,000. It had total assets of $1 Million in 2019 and $1.2 Million in 2020. In 2020, Shields Inc. had a return on assets of: 1. None of the answers are correct 2. 10% 3. 45.45% 4. 10.9% 5. 12%

In 2020, Shields Inc. had Net Sales of $500,000 and Net Income of $120,000. It had total assets of $1 Million in 2019 and $1.2 Million in 2020. In 2020, Shields Inc. had a return on assets of: 1. None of the answers are correct 2. 10% 3. 45.45% 4. 10.9% 5. 12%

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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(Multiple Choice Question)

In 2020, Shields Inc. had Net Sales of $500,000 and Net Income of $120,000. It had total assets of $1 Million in 2019 and $1.2 Million in 2020. In 2020, Shields Inc. had a return on assets of:

1. None of the answers are correct

2. 10%

3. 45.45%

4. 10.9%

5. 12%

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