Homework Answers
Answer:
8.7%
Explanation:
Given,
Income = $160 million (assume Net)
Average total assets = $1,840 million
Return on Assets is given by the following formula:
Return on Assets =(Net Income ÷ Average total assets ) * 100
= ($160 million ÷ $1,840 million) * 100
= 8.6895652%
= 8.7% (approx.)
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