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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%

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 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%
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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