Accounting solution Prime Manufacturing had the following 2024 financial statementrelationships: Asset turnover: 2.5 Profit margin on sales: 0.06What was Prime Manufacturing's 2024 percentage return on assets?a. 6%b. 15%c. 10%d. 2.5%

Step 1: Definition of Return on Assets (ROA)Return on Assets (ROA) is a financial ratio that shows…

Answered: Prime Manufacturing had the following…

Managerial Accounting: The Cornerstone of Business Decision-Making

7th Edition

ISBN:9781337115773

Author:Maryanne M. Mowen, Don R. Hansen, Dan L. Heitger

Publisher:Maryanne M. Mowen, Don R. Hansen, Dan L. Heitger

Chapter15: Financial Statement Analysis

Section: Chapter Questions

Problem 6MCQ

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Prime Manufacturing had the following 2024 financial statement relationships: Asset turnover: 2.5 Profit margin on sales: 0.06 What was Prime Manufacturing's 2024 percentage return on assets? a. 6% b. 15% c. 10% d. 2.5%