Nolan manufactures, markets, and sells cellular telephones. The average total assets for Nolan is $250,000. In its most recent year, Nolan reported a net income of $55,000 on revenues of $455,000. What is Nolan's return on assets?

Nolan manufactures, markets, and sells cellular telephones. The average total assets for Nolan is $250,000. In its most recent year, Nolan reported a net income of $55,000 on revenues of $455,000. What is Nolan's return on assets?

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 3MAD: Deere Company (DE) manufactures and distributes farm and construction machinery that it sells...

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Question

I won't to this question answer general Accounting

Nolan manufactures, markets, and sells cellular
telephones. The average total assets for Nolan is
$250,000. In its most recent year, Nolan reported a net
income of $55,000 on revenues of $455,000. What is
Nolan's return on assets?

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