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?
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?
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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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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