Answered: Richard's Sporting Goods reports net…

Richard's Sporting Goods reports net income of $180,000, net sales of $530,000, and average assets of $1,200,000. The return on assets is: Multiple Choice 15.0%. 2.9 times. 34.0%. 44.2%.

Intermediate Accounting: Reporting And Analysis

3rd Edition

ISBN:9781337788281

Author:James M. Wahlen, Jefferson P. Jones, Donald Pagach

Publisher:James M. Wahlen, Jefferson P. Jones, Donald Pagach

Chapter5: The Income Statement And The Statement Of Cash Flows

Section: Chapter Questions

Problem 1RE: Brandt Corporation had sales revenue of 500,000 for the current year. For the year, its cost of...

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Richard's Sporting Goods reports net income of $180,000, net sales of $530,000, and average assets of $1,200,000. The return on assets is:

Multiple Choice

15.0%.
2.9 times.
34.0%.
44.2%.

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