Answered: Tamie Industries has $1,200,000 in…

Tamie Industries has $1,200,000 in assets and $500,000 in debt. If it earns a net income of $480,000, calculate the Return on Assets (ROA). a) 55.2% b) 40.0% c) 80.0% d) 25.6%

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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What is the Return on Assets of this general accounting question?

Tamie Industries has $1,200,000 in assets and $500,000 in debt. If
it earns a net income of $480,000, calculate the Return on Assets
(ROA).
a) 55.2%
b) 40.0%
c) 80.0%
d) 25.6%

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