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TR's has annual sales of $612,200, total debt of $153,000, total equity of $354,000, and a profit margin of 6.78 percent. What is the return on assets?

TR's has annual sales of $612,200, total debt of $153,000, total equity of $354,000, and a profit margin of 6.78 percent. What is the return on assets?

Principles of Accounting Volume 2
Principles of Accounting Volume 2
19th Edition
ISBN:9781947172609
Author:OpenStax
Publisher:OpenStax
Chapter12: Balanced Scorecard And Other Performance Measures
Section: Chapter Questions
Problem 5EB: During the current year. Plainfield Manufacturing earned income of $845,000 from total sales of...
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TR's has annual sales of $612,200, total debt of $153,000, total equity of $354,000, and a profit margin of 6.78 percent. What is the return on assets?
Transcribed Image Text:TR's has annual sales of $612,200, total debt of $153,000, total equity of $354,000, and a profit margin of 6.78 percent. What is the return on assets?
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