During that latest year, XYZ Corporation has total sales of $400,000, net income of 20,000, and...

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During that latest year, XYZ Corporation has total sales of $400,000, net income of 20,000, and...

During that latest year, XYZ Corporation has total sales of $400,000, net income of 20,000, and its year-end total assets were $230,000. The firm's total debt to total assets ratio was 40%. What is firm's return on assets (ROA)? (Please show all steps used to get the answer)

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Answer 1

Answer #1

Return on assets = [ Net income / Total assets ] = [ $20,000 / $230,000 ] = 8.70%

Note : In the absence of any information regarding rounding off, the answer is rounded off to 2 decimal places.

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