The following information is provided for Sandhill Company and Indigo Corporation. (in $ millions) Sandhill Company   Indigo Corporation Net income 2022   $125       $375   Net sales 2022 1540     4500   Total assets 12/31/20 1045     2010   Total assets 12/31/21 1220     3150   Total assets 12/31/22 1175     4070   What is Indigo's return on assets for 2022?

Cornerstones of Financial Accounting
4th Edition
ISBN:9781337690881
Author:Jay Rich, Jeff Jones
Publisher:Jay Rich, Jeff Jones
Chapter12: Fainancial Statement Analysis
Section: Chapter Questions
Problem 98.3C
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The following information is provided for Sandhill Company and Indigo Corporation.

(in $ millions)

Sandhill Company

 

Indigo Corporation

Net income 2022

  $125

   

  $375

 

Net sales 2022

1540

   

4500

 

Total assets 12/31/20

1045

   

2010

 

Total assets 12/31/21

1220

   

3150

 

Total assets 12/31/22

1175

   

4070

 


What is Indigo's return on assets for 2022?

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