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Category Prior Year Current Year Accounts payable ??? ??? Accounts receivable 320,715 397,400 Accruals 40,500 33,750...

Category Prior Year Current Year
Accounts payable ??? ???
Accounts receivable 320,715 397,400
Accruals 40,500 33,750
Additional paid in capital 500,000 541,650
Cash 17,500 47,500
Common Stock 94,000 105,000
COGS 328,500 428,070.00
Current portion long-term debt 33,750 35,000
Depreciation expense 54,000 54,594.00
Interest expense 40,500 41,958.00
Inventories 279,000 288,000
Long-term debt 338,782.00 401,881.00
Net fixed assets 946,535 999,000
Notes payable 148,500 162,000
Operating expenses (excl. depr.) 126,000 161,697.00
Retained earnings 306,000 342,000
Sales 639,000 845,230.00
Taxes 24,750 48,105.00
What is the current year's return on assets (ROA)?


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Answer format: Percentage Round to: 2 decimal places (Example: 9.24%, % sign required. Will accept decimal format rounded to 4 decimal places (ex: 0.0924))



there was no accounts payabke given. thats how the question was asked
business   accounting   
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Answer #1

To calculate Return on Assets, we need net income So, Net income=Sales - COGS - operating exp - depreciation - interest exp -I HOPE IT USEFUL TO YOU IF YOU HAVE ANY DOUBT PLZ COMMENT GIVE ME UP-THUMB. THANKS....

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