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Lakeside Electronics, Inc., has sales of $8 million, a total asset turnover ratio of 8 for the year, and net profits of $200,000. What is the company's return on assets or earning power?

Lakeside Electronics, Inc., has sales of $8 million, a total asset turnover ratio of 8 for the year, and net profits of $200,000. What is the company's return on assets or earning power?

Intermediate Financial Management (MindTap Course List)
Intermediate Financial Management (MindTap Course List)
13th Edition
ISBN:9781337395083
Author:Eugene F. Brigham, Phillip R. Daves
Publisher:Eugene F. Brigham, Phillip R. Daves
Chapter6: Accounting For Financial Management
Section: Chapter Questions
Problem 4P: Talbot Enterprises recently reported an EBITDA of $8 million and net income of $2.4 million. It had...
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Financial Accounting

Lakeside Electronics, Inc., has sales of $8 million, a total asset turnover ratio of 8 for the year, and net profits of $200,000. What is the company's return on assets or earning power?
Transcribed Image Text:Lakeside Electronics, Inc., has sales of $8 million, a total asset turnover ratio of 8 for the year, and net profits of $200,000. What is the company's return on assets or earning power?
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