Problem

Iowa Group reports net income of $36,000 for 2009. At the beginning of 2009, Iowa Group...

Iowa Group reports net income of $36,000 for 2009. At the beginning of 2009, Iowa Group had $135,000 in assets. By the end of 2009, assets had grown to $185,000. What is Iowa Group’s 2009 return on assets? How would you assess its performance if competitors average a 10% return on assets?

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