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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%

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%

FINANCIAL ACCOUNTING
FINANCIAL ACCOUNTING
10th Edition
ISBN:9781259964947
Author:Libby
Publisher:Libby
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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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%
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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