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TOM's has annual sales of $415,200, total debt of $91,000, total equity of $126,000, and a profit margin of 6.97 percent. What is the return on assets? A) 11.29 percent B) 13.34 percent C) 9.94 percent D) 12.78 percent E) 19.02 percent

TOM's has annual sales of $415,200, total debt of $91,000, total equity of $126,000, and a profit margin of 6.97 percent. What is the return on assets? A) 11.29 percent B) 13.34 percent C) 9.94 percent D) 12.78 percent E) 19.02 percent

FINANCIAL ACCOUNTING
FINANCIAL ACCOUNTING
10th Edition
ISBN:9781259964947
Author:Libby
Publisher:Libby
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
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TOM's has annual sales of $415,200, total debt of $91,000, total equity of $126,000, and a profit margin of 6.97 percent. What is the return on assets? A) 11.29 percent B) 13.34 percent C) 9.94 percent D) 12.78 percent E) 19.02 percent
Transcribed Image Text:TOM's has annual sales of $415,200, total debt of $91,000, total equity of $126,000, and a profit margin of 6.97 percent. What is the return on assets? A) 11.29 percent B) 13.34 percent C) 9.94 percent D) 12.78 percent E) 19.02 percent
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