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The following information is provided for Fremont Inc. and Morgan Group: Fremont Inc. Morgan Group (in $ millions) Net income 2018 $250 $500 Net sales 2018 2,000 5,000 Total assets 12/31/16 1,300 2,800 Total assets 12/31/17 1,500 3,400 Total assets 12/31/18 1,700 4,200 Investment in other firms $50 $100 What is Morgan Group's return on assets (rounded) for 2018? a. 10.9% b. 12.5% c. 11.8% d. 13.1% e. 9.6% f. 11.3%

The following information is provided for Fremont Inc. and Morgan Group: Fremont Inc. Morgan Group (in $ millions) Net income 2018 $250 $500 Net sales 2018 2,000 5,000 Total assets 12/31/16 1,300 2,800 Total assets 12/31/17 1,500 3,400 Total assets 12/31/18 1,700 4,200 Investment in other firms $50 $100 What is Morgan Group's return on assets (rounded) for 2018? a. 10.9% b. 12.5% c. 11.8% d. 13.1% e. 9.6% f. 11.3%

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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The following information is provided for Fremont Inc. and Morgan Group: Fremont Inc. Morgan Group (in $ millions) Net income 2018 $250 $500 Net sales 2018 2,000 5,000 Total assets 12/31/16 1,300 2,800 Total assets 12/31/17 1,500 3,400 Total assets 12/31/18 1,700 4,200 Investment in other firms $50 $100 What is Morgan Group's return on assets (rounded) for 2018? a. 10.9% b. 12.5% c. 11.8% d. 13.1% e. 9.6% f. 11.3%
Transcribed Image Text:The following information is provided for Fremont Inc. and Morgan Group: Fremont Inc. Morgan Group (in $ millions) Net income 2018 $250 $500 Net sales 2018 2,000 5,000 Total assets 12/31/16 1,300 2,800 Total assets 12/31/17 1,500 3,400 Total assets 12/31/18 1,700 4,200 Investment in other firms $50 $100 What is Morgan Group's return on assets (rounded) for 2018? a. 10.9% b. 12.5% c. 11.8% d. 13.1% e. 9.6% f. 11.3%
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