Need help with this accounting question Sales for the year = $246,687, Net Income for the year =$22,965, and average Assets during the year = $136,357.Return on Assets (ROA) for the year is:A) 53.8%B) 16.8%C) 9.3%D) There is not enough information to calculate ROA.E) None of the above.

Step 1: Define Return on AssetsThe return on assets financial ratio gives an estimate of the net…

Answered: Sales for the year = $246,687, Net…

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

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Sales for the year = $246,687, Net Income for the year = $22,965, and average Assets during the year = $136,357. Return on Assets (ROA) for the year is: A) 53.8% B) 16.8% C) 9.3% D) There is not enough information to calculate ROA. E) None of the above.