Question: The following information is provided for Sheridan Company and Concord Corporation: (in $ millions) Sheridan Company Concord Corporation Net income 2017 $170 $390 Net sales 2017 1,625 4,550 Total assets 12/31/15 1,005 2,280 Total assets 12/31/16 1,160 3,080 Total assets 12/31/17 1,160 4,000 What is Concord's return on assets (rounded) for 2017? a. 9.8% b. 12.7% c. 14.6% d. 11%
Question: The following information is provided for Sheridan Company and Concord Corporation: (in $ millions) Sheridan Company Concord Corporation Net income 2017 $170 $390 Net sales 2017 1,625 4,550 Total assets 12/31/15 1,005 2,280 Total assets 12/31/16 1,160 3,080 Total assets 12/31/17 1,160 4,000 What is Concord's return on assets (rounded) for 2017? a. 9.8% b. 12.7% c. 14.6% d. 11%
Cornerstones of Financial Accounting
4th Edition
ISBN:9781337690881
Author:Jay Rich, Jeff Jones
Publisher:Jay Rich, Jeff Jones
Chapter12: Fainancial Statement Analysis
Section: Chapter Questions
Problem 98.3C
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![Question:
The following information is provided for Sheridan Company and Concord
Corporation:
(in $ millions)
Sheridan Company Concord Corporation
Net income 2017
$170
$390
Net sales 2017
1,625
4,550
Total assets 12/31/15 1,005
2,280
Total assets 12/31/16 1,160
3,080
Total assets 12/31/17 1,160
4,000
What is Concord's return on assets (rounded) for 2017?
a. 9.8%
b. 12.7%
c. 14.6%
d. 11%](/v2/_next/image?url=https%3A%2F%2Fcontent.bartleby.com%2Fqna-images%2Fquestion%2F3a594ee5-38bf-4f16-a416-e756bc7011ee%2F9648d2c5-8774-473c-a8b4-08e065eec5af%2Fe189tkc_processed.jpeg&w=3840&q=75)
Transcribed Image Text:Question:
The following information is provided for Sheridan Company and Concord
Corporation:
(in $ millions)
Sheridan Company Concord Corporation
Net income 2017
$170
$390
Net sales 2017
1,625
4,550
Total assets 12/31/15 1,005
2,280
Total assets 12/31/16 1,160
3,080
Total assets 12/31/17 1,160
4,000
What is Concord's return on assets (rounded) for 2017?
a. 9.8%
b. 12.7%
c. 14.6%
d. 11%
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