Sunset Café reports net income of $180,000, average total assets of $800,000, and average total liabilities of $320,000. Calculate the return on assets and return on equity ratios.
Sunset Café reports net income of $180,000, average total assets of $800,000, and average total liabilities of $320,000. Calculate the return on assets and return on equity ratios.
Financial Accounting
15th Edition
ISBN:9781337272124
Author:Carl Warren, James M. Reeve, Jonathan Duchac
Publisher:Carl Warren, James M. Reeve, Jonathan Duchac
Chapter17: Financial Statement Analysis
Section: Chapter Questions
Problem 6CP: The average liabilities, average stockholders' equity, and average total assets are as follows: 1....
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General accounting

Transcribed Image Text:Sunset Café reports net income of $180,000, average total assets of
$800,000, and average total liabilities of $320,000. Calculate the
return on assets and return on equity ratios.
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