The following information is provided for Sunland Company and Culver Corporation: (in $ millions) Sunland Company Culver Corporation Net income 2017 $155 $430 Net sales 2017 1255 4510 Total assets 12/31/15 1005 2070 Total assets 12/31/16 1250 3070 Total assets 12/31/17 1155 What is Culver's return on assets (rounded) for 2017? 4000 a. 10.8% b. 12.3% c. 14.0% d. 12.2%
The following information is provided for Sunland Company and Culver Corporation: (in $ millions) Sunland Company Culver Corporation Net income 2017 $155 $430 Net sales 2017 1255 4510 Total assets 12/31/15 1005 2070 Total assets 12/31/16 1250 3070 Total assets 12/31/17 1155 What is Culver's return on assets (rounded) for 2017? 4000 a. 10.8% b. 12.3% c. 14.0% d. 12.2%
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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Hello tutor please provide correct answer general accounting don't use chart gpt...

Transcribed Image Text:The following information is provided for Sunland Company and Culver
Corporation:
(in $ millions)
Sunland Company Culver Corporation
Net income 2017
$155
$430
Net sales 2017
1255
4510
Total assets 12/31/15 1005
2070
Total assets 12/31/16 1250
3070
Total assets 12/31/17 1155
What is Culver's return on assets (rounded) for 2017?
4000
a. 10.8%
b. 12.3%
c. 14.0%
d. 12.2%
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