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Swiss Group reports a net income of $40,000 for 2017. At the beginning of 2017, Swiss Group had $200,000 in assets. By the end of 2017, assets had grown to $300,000. What is Swiss Group's 2017 return on assets?

Swiss Group reports a net income of $40,000 for 2017. At the beginning of 2017, Swiss Group had $200,000 in assets. By the end of 2017, assets had grown to $300,000. What is Swiss Group's 2017 return on assets?

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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Swiss Group reports a net income of $40,000 for 2017. At the beginning of 2017, Swiss Group had $200,000 in assets. By the end of 2017, assets had grown to $300,000. What is Swiss Group's 2017 return on assets?
Transcribed Image Text:Swiss Group reports a net income of $40,000 for 2017. At the beginning of 2017, Swiss Group had $200,000 in assets. By the end of 2017, assets had grown to $300,000. What is Swiss Group's 2017 return on assets?
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