The following amounts were taken from the financial statements of Concord Corporation: 20172016Total assets$818000$1020000Net sales726000655000Gross profit376000332000Net income118000130000Weighted average number of 90200 80000 common shares outstanding Market price of common stock$42$36The return on assets for 2017 is12%.13%.14%.6%.

Return on Investment: Return on Investment is a measure how well the company is performing using the…

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Business

Accounting

The return on assets for 2017 is

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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Question

The following amounts were taken from the financial statements of Concord Corporation:

	2017	2016
Total assets	$818000	$1020000
Net sales	726000	655000
Gross profit	376000	332000
Net income	118000	130000
Weighted average number of	90200	80000
common shares outstanding
Market price of common stock	$42	$36

The return on assets for 2017 is

12%.

13%.

14%.

6%.

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