Magnus Enterprises has net sales of $1,020,000, net income of $74,500, average current assets of $52,000, average fixed assets of $178,500, and average total assets of $230,500. What is Magnus Enterprises' return on assets?
Magnus Enterprises has net sales of $1,020,000, net income of $74,500, average current assets of $52,000, average fixed assets of $178,500, and average total assets of $230,500. What is Magnus Enterprises' return on assets?
Chapter3: Analysis Of Financial Statements
Section: Chapter Questions
Problem 8P
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SUBJECT: GENERAL ACCOUNTING
Transcribed Image Text:Magnus Enterprises has net sales of
$1,020,000, net income of $74,500,
average current assets of $52,000,
average fixed assets of $178,500, and
average total assets of $230,500.
What is Magnus Enterprises' return
on assets?
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