The following information is provided for Noble Systems Inc.: ($ in millions) Noble Systems Inc. Net income 2023 $525 Net sales 2023 5,200 Total assets, 12/31/212,700 Total assets, 12/31/22 3,800 Total assets, 12/31/23 4,600 What is Noble Systems' return on assets for 2023?

The following information is provided for Noble Systems Inc.: ($ in millions) Noble Systems Inc. Net income 2023 $525 Net sales 2023 5,200 Total assets, 12/31/212,700 Total assets, 12/31/22 3,800 Total assets, 12/31/23 4,600 What is Noble Systems' return on assets for 2023?

Fundamentals Of Financial Management, Concise Edition (mindtap Course List)

10th Edition

ISBN:9781337902571

Author:Eugene F. Brigham, Joel F. Houston

Publisher:Eugene F. Brigham, Joel F. Houston

Chapter3: Financial Statements, Cash Flow, And Taxes

Section: Chapter Questions

Problem 19SP

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Question

I am searching for the correct answer to this general accounting problem with proper accounting rules.

The following information is provided for
Noble Systems Inc.:
($ in millions)
Noble Systems Inc.
Net income 2023
$525
Net sales 2023
5,200
Total assets, 12/31/212,700
Total assets, 12/31/22 3,800
Total assets, 12/31/23 4,600
What is Noble Systems' return on assets
for 2023?

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Correct option? General accounting question
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