Calculate the return on assets for a gun shop that has total assets of $410,000,current assets of $74,000,total liabilities of $280,000,accounts receivable of $12,000,net sales of $64,000 and net profit of $30,000.
A)18.3 percent
B)8.2 percent
C)7.3 percent
D)25.0 percent
E)26.5 percent

Question

Quizplus · Accepted Answer

Return on assets equals net profit ($30,000)divided by total assets ($410,000)converted to a percentage.

Calculate the Return on Assets for a Gun Shop That