Homework Answers
Answer is 20.8%
Beginning Total Assets = $268,000
Ending Total Assets = $318,000
Average Total Assets = (Beginning Total Assets + Ending Total
Assets) / 2
Average Total Assets = ($268,000 + $318,000) / 2
Average Total Assets = $293,000
Return on Assets = Net Income / Average Total Assets
Return on Assets = $61,000 / $293,000
Return on Assets = 0.208 or 20.8%
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