ome selected financial statement items belonging to MNO Company are given in the table below. According to this information, which of the following is Return on Assets (ROA) in 2021?Inventory 12,500Total Assets in 2021 110,000Current Liabilities 40,000Total Assets in 2020 90,000Net Profit 12,000Shareholders' Equity 65,000Select one:a. 0.18b. 0.10c. 0.13d. 0.12

The return on assets is calculated by dividing the net income of the company by the total average…

Answered: ome selected financial statement items…

College Accounting, Chapters 1-27

23rd Edition

ISBN:9781337794756

Author:HEINTZ, James A.

Publisher:HEINTZ, James A.

Chapter24: Analysis Of Financial Statements

Section: Chapter Questions

Problem 3SEB

See similar textbooks

Related questions

Concept explainers

Question

ome selected financial statement items belonging to MNO Company are given in the table below. According to this information, which of the following is Return on Assets (ROA) in 2021?

Inventory	12,500
Total Assets in 2021	110,000
Current Liabilities	40,000
Total Assets in 2020	90,000
Net Profit	12,000
Shareholders' Equity	65,000

Select one:

a. 0.18

b. 0.10

c. 0.13

d. 0.12

Expert Solution

Step by step

Solved in 3 steps

SEE SOLUTION Check out a sample Q&A here

Knowledge Booster

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