The company's return on assets for the year ending December 31, 2019, is not exactly matching any of the options provided. However, I will now read back the entire question and provide the closest answer from the options given. A company reported the following financial information: As of December 31, 2018: total assets of $10,000,000 net sales revenue of $6,000,000 Net income of $1,000,000 As of December 31, 2019: total assets of $14,000,000 net sales revenue of $8,000,000 net income of $2,200,000 What was the company's return on assets for the year ending December 31, 2019?

The company's return on assets for the year ending December 31, 2019, is not exactly matching any of the options provided. However, I will now read back the entire question and provide the closest answer from the options given. A company reported the following financial information: As of December 31, 2018: total assets of $10,000,000 net sales revenue of $6,000,000 Net income of $1,000,000 As of December 31, 2019: total assets of $14,000,000 net sales revenue of $8,000,000 net income of $2,200,000 What was the company's return on assets for the year ending December 31, 2019?

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

Chapter12: Intangibles

Section: Chapter Questions

Problem 10MC

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