I need answer of this question accounting Use the beginning and ending balance sheets and an income statements youcalculate the following for the year 2012:Net cash farmincomeBeginning assetvalue$164,333 Gross cash farm income$1,233,550 Ending asset valueBeginning equity $846,225Ending equityInterest expense $30,000$744,333$1,298,000$868,000$-87,280Inventory change $0Capital asset change$15,000 unpaid labor & $15,000unpaid managementThe rate of return on assets for 2012 was?A. 13%B. 10%C. 18%D. 6%

Step 1: Define Return on AssetReturn on assets is one way to calculate the profitability that a…

Answered: Use the beginning and ending balance…

Survey of Accounting (Accounting I)

8th Edition

ISBN:9781305961883

Author:Carl Warren

Publisher:Carl Warren

Chapter7: Fixed Assets, Natural Resources, And Intangible Assets

Section: Chapter Questions

Problem 7.3.2MBA

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