Survey of Accounting (Accounting I)
Solutions
Survey of Accounting (Accounting I)
Twenty metrics of liquidity, solvency, and profitability
The comparative financial statements of Automotive Solutions Inc. are as follows. The market price of Automotive Solutions Inc. common stock was $119.70 on December 31, 20Y8
Instructions
Return on total assets
Concept Introduction:
Return on total Assets:
The Return on total assets is profitability ratio that measures the percentage of profit earned on average assets invested in business. Return on asset is calculated by dividing the net income by average total assets. The formula to calculate Return on assets is as follows:
Note: Average total assets are calculated as an average of beginning and ending total assets. The formula to calculate the average total assets is as follows:
To Calculate:
The returns on total assets.
The Return on Total Assets is calculated as follows:
| 20Y8 | |
| Net Income (A) | $ 900,000 |
| Beginning Total Assets (B) | $ 8,755,0... |
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