question archive The following information relating to the financial results of a company is given below: Net sales $ 74,331 Total assets, 12/28/14 $131,119 Total assets, 12/24/13 $132,683 Net income $16,323 Calculate the return on assets
The following information relating to the financial results of a company is given below: Net sales $ 74,331 Total assets, 12/28/14 $131,119 Total assets, 12/24/13 $132,683 Net income $16,323 Calculate the return on assets
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The following information relating to the financial results of a company is given
below:
Net sales $ 74,331
Total assets, 12/28/14 $131,119
Total assets, 12/24/13 $132,683
Net income $16,323
Calculate the return on assets
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Return on assets = Net Income / Average Total Assets x 100
= 16,323 / ($131,119 + $132,683 / 2) x 100
= 16,323 / 131,901 x 100
= 12.38%
