The following information is provided for Cullumber Company and Bramble Corporation.(in $ millions)Cullumber Company Bramble CorporationNet income 2022 $145 $415 Net sales 20221755 4610 Total assets 12/31/201025 2330 Total assets 12/31/211260 3000 Total assets 12/31/221150 4080 What is Bramble's return on assets for 2022? (Round answer to 1 decimal place, e.g. 15.2.)11.5%13.8%10.2%11.7%

Ratio analysis is a method of measuring the financial position of the organization with different kinds of ratios such as current ratio, liquid ratio, profitability ratio, solvency ratio. Return on assets is also one of then that indicates how management used the assets to generate income Return on assets = Net income / Total assets = 415 / 4,080 = 0.1017 or 10.2 % So the correct answer is 10.2%

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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 Cullumber Company and Bramble Corporation.

(in $ millions)	Cullumber Company
Net income 2022	$145	$415
Net sales 2022	1755	4610
Total assets 12/31/20	1025	2330
Total assets 12/31/21	1260	3000
Total assets 12/31/22	1150	4080

What is Bramble's return on assets for 2022? (Round answer to 1 decimal place, e.g. 15.2.)

11.5%

13.8%

10.2%

11.7%

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