Park Corporation reports net income of $180,000 and net sales of $450,000. Total assets were $760,000 and $920,000 at the beginning and end of the year, respectively. Calculate return on assets. a. 19.6% b. 21.4% c. 23.7% d. 53.6%

Park Corporation reports net income of $180,000 and net sales of $450,000. Total assets were $760,000 and $920,000 at the beginning and end of the year, respectively. Calculate return on assets. a. 19.6% b. 21.4% c. 23.7% d. 53.6%

Intermediate Accounting: Reporting And Analysis

3rd Edition

ISBN:9781337788281

Author:James M. Wahlen, Jefferson P. Jones, Donald Pagach

Publisher:James M. Wahlen, Jefferson P. Jones, Donald Pagach

Chapter5: The Income Statement And The Statement Of Cash Flows

Section: Chapter Questions

Problem 1RE: Brandt Corporation had sales revenue of 500,000 for the current year. For the year, its cost of...

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What is the return on assets on these general accounting question?

Park Corporation reports net income of $180,000 and net sales
of $450,000. Total assets were $760,000 and $920,000 at the
beginning and end of the year, respectively. Calculate return on
assets.
a. 19.6%
b. 21.4%
c. 23.7%
d. 53.6%

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