Step Up Ladders Company provides the following financial information: Income from operations $400,000 Interest expense 46,000 Gains/(losses) on sale of equipment 2,700 Net income 351,300 Total assets at Jan. 1 2,800,000 Total assets at Dec .31 3,200,000 Calculate return on investment based on the information given above. (Round your answer to two decimal places.)

Step Up Ladders Company provides the following financial information: Income from operations $400,000 Interest expense 46,000 Gains/(losses) on sale of equipment 2,700 Net income 351,300 Total assets at Jan. 1 2,800,000 Total assets at Dec .31 3,200,000 Calculate return on investment based on the information given above. (Round your answer to two decimal places.)

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 1.4.2MBA: Return on assets The following data (in millions) were adapted from recent financial statements of...

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bartleby, a Learneo, Inc. business

Income from operations	$400,000
Interest expense	46,000
Gains/(losses) on sale of equipment	2,700
Net income	351,300
Total assets at Jan. 1	2,800,000
Total assets at Dec .31	3,200,000