The following information is provided for Cullumber Company and Bramble Corporation. (in $ millions) Cullumber Company   Bramble Corporation Net income 2022   $145       $415   Net sales 2022 1755     4610   Total assets 12/31/20 1025     2330   Total assets 12/31/21 1260     3000   Total assets 12/31/22 1150     4080   What is Bramble's return on assets for 2022? (Round answer to 1 decimal place, e.g. 15.2.) 11.5% 13.8% 10.2% 11.7%

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
icon
Related questions
Question

The following information is provided for Cullumber Company and Bramble Corporation.

(in $ millions)

Cullumber Company

 

Bramble Corporation

Net income 2022

  $145

   

  $415

 

Net sales 2022

1755

   

4610

 

Total assets 12/31/20

1025

   

2330

 

Total assets 12/31/21

1260

   

3000

 

Total assets 12/31/22

1150

   

4080

 


What is Bramble's return on assets for 2022? (Round answer to 1 decimal place, e.g. 15.2.)

11.5%

13.8%

10.2%

11.7%

Expert Solution
trending now

Trending now

This is a popular solution!

steps

Step by step

Solved in 2 steps

Blurred answer
Knowledge Booster
Computation of Taxable Income
Learn more about
Need a deep-dive on the concept behind this application? Look no further. Learn more about this topic, accounting and related others by exploring similar questions and additional content below.
Similar questions
  • SEE MORE QUESTIONS
Recommended textbooks for you
Intermediate Accounting: Reporting And Analysis
Intermediate Accounting: Reporting And Analysis
Accounting
ISBN:
9781337788281
Author:
James M. Wahlen, Jefferson P. Jones, Donald Pagach
Publisher:
Cengage Learning
SWFT Essntl Tax Individ/Bus Entities 2020
SWFT Essntl Tax Individ/Bus Entities 2020
Accounting
ISBN:
9780357391266
Author:
Nellen
Publisher:
Cengage
SWFT Corp Partner Estates Trusts
SWFT Corp Partner Estates Trusts
Accounting
ISBN:
9780357161548
Author:
Raabe
Publisher:
Cengage
SWFT Comprehensive Volume 2019
SWFT Comprehensive Volume 2019
Accounting
ISBN:
9780357233306
Author:
Maloney
Publisher:
Cengage
SWFT Comprehensive Vol 2020
SWFT Comprehensive Vol 2020
Accounting
ISBN:
9780357391723
Author:
Maloney
Publisher:
Cengage
Cornerstones of Financial Accounting
Cornerstones of Financial Accounting
Accounting
ISBN:
9781337690881
Author:
Jay Rich, Jeff Jones
Publisher:
Cengage Learning