Solve this general accounting problem Stella Corp reports a net income of $42,000for 2022. At the beginning of 2022, StellaCorp had $160,000 in assets. By the end of2022, assets had grown to $200,000.What is Stella Corp's 2022 return on assets?

Explanation of Net Income: Net income represents the total earnings or profit of a company after…

Answered: Stella Corp reports a net income of…

Fundamentals Of Financial Management, Concise Edition (mindtap Course List)

10th Edition

ISBN:9781337902571

Author:Eugene F. Brigham, Joel F. Houston

Publisher:Eugene F. Brigham, Joel F. Houston

Chapter3: Financial Statements, Cash Flow, And Taxes

Section: Chapter Questions

Problem 19SP

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Stella Corp reports a net income of $42,000 for 2022. At the beginning of 2022, Stella Corp had $160,000 in assets. By the end of 2022, assets had grown to $200,000. What is Stella Corp's 2022 return on assets?