Answered: The Kingwood Company reported net…

The Kingwood Company reported net income of $50,000 and average total assets of $450,000. Calculate the company’s return on assets.

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 1.4.1MBA: Return on assets The following data (in millions) were adapted from recent financial statements of...

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Question

SE9-8 Return on Assets

The Kingwood Company reported net income of $50,000 and average total assets of $450,000. Calculate the company’s return on assets.

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