The company's return on assets for the year ending December 31, 2019, is not exactly matching any of the options provided. However, I will now read back the entire question and provide the closest answer from the options given. A company reported the following financial information: As of December 31, 2018: total assets of $10,000,000 net sales revenue of $6,000,000 Net income of $1,000,000 As of December 31, 2019: total assets of $14,000,000 net sales revenue of $8,000,000 net income of $2,200,000 What was the company's return on assets for the year ending December 31, 2019?

FINANCIAL ACCOUNTING
10th Edition
ISBN:9781259964947
Author:Libby
Publisher:Libby
Chapter1: Financial Statements And Business Decisions
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The company's return on assets for the year ending December 31, 2019, is not exactly matching any of the options provided. However, I will now read back the entire question and provide the closest answer from the options given.

A company reported the following financial information:

As of December 31, 2018:

  • total assets of $10,000,000
  • net sales revenue of $6,000,000
  • Net income of $1,000,000

As of December 31, 2019:

  • total assets of $14,000,000
  • net sales revenue of $8,000,000
  • net income of $2,200,000

What was the company's return on assets for the year ending December 31, 2019?

  • 8.33%
  • 14.29%
  • 16.67%
  • 66.67%
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