On December 31, Harper Inc., reported, on its year-end financial statements, the following (in millions): Year 2 Year 1 Total assets $10,385 $10,472 Total sales $6,296 $6,295 Net income $692 $790 Calculate return on assets (ROA) for Year 2. Select one: a. 6.7% b. None of the these are correct. c. 60.6% d. 6.6% e. 60.4%
On December 31, Harper Inc., reported, on its year-end financial statements, the following (in millions): Year 2 Year 1 Total assets $10,385 $10,472 Total sales $6,296 $6,295 Net income $692 $790 Calculate return on assets (ROA) for Year 2. Select one: a. 6.7% b. None of the these are correct. c. 60.6% d. 6.6% e. 60.4%
Survey of Accounting (Accounting I)
8th Edition
ISBN:9781305961883
Author:Carl Warren
Publisher:Carl Warren
Chapter1: The Role Of Accounting In Business
Section: Chapter Questions
Problem 1.4.1MBA: Return on assets The following data (in millions) were adapted from recent financial statements of...
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On December 31, Harper Inc., reported, on its year-end financial statements, the following (in millions):
Year 2 | Year 1 | |
---|---|---|
Total assets | $10,385 | $10,472 |
Total sales | $6,296 | $6,295 |
Net income | $692 | $790 |
Calculate return on assets (ROA) for Year 2.
Select one:
a. 6.7%
b. None of the these are correct.
c. 60.6%
d. 6.6%
e. 60.4%
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