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Riverside Industries reported a net income of $72,500 on gross sales of $725,000. The company has average total assets of $580,000 of which $435,000 is property, plant, and equipment. What is the company's return on investment? a) 16.7% b) 12.5% c) 14.2% d) 10.9%

Riverside Industries reported a net income of $72,500 on gross sales of $725,000. The company has average total assets of $580,000 of which $435,000 is property, plant, and equipment. What is the company's return on investment? a) 16.7% b) 12.5% c) 14.2% d) 10.9%

Intermediate Accounting: Reporting And Analysis
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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Riverside Industries reported a net income of $72,500 on gross sales of $725,000. The company has average total assets of $580,000 of which $435,000 is property, plant, and equipment. What is the company's return on investment? a) 16.7% b) 12.5% c) 14.2% d) 10.9%
Transcribed Image Text:Riverside Industries reported a net income of $72,500 on gross sales of $725,000. The company has average total assets of $580,000 of which $435,000 is property, plant, and equipment. What is the company's return on investment? a) 16.7% b) 12.5% c) 14.2% d) 10.9%
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