General accounting question Oceanic Technologies provided these financial details:⚫ Net Income: $240,000⚫ Beginning Total Assets: $2,000,000⚫ Ending Total Assets: $2,400,000Calculate the ROA.A) 10.00%B) 11.25%C) 10.91%D) 9.75%

Step 1: Definition of Return on Assets (ROA)Return on Assets (ROA) measures how efficiently a…

Answered: Oceanic Technologies provided these…

EBK CONTEMPORARY FINANCIAL MANAGEMENT

14th Edition

ISBN:9781337514835

Author:MOYER

Publisher:MOYER

Chapter3: Evaluation Of Financial Performance

Section: Chapter Questions

Problem 19P

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Oceanic Technologies provided these financial details: ⚫ Net Income: $240,000 ⚫ Beginning Total Assets: $2,000,000 ⚫ Ending Total Assets: $2,400,000 Calculate the ROA. A) 10.00% B) 11.25% C) 10.91% D) 9.75%