Ridgetop Corporation reported the following amounts on its balance sheet at December 31,2019:
On January 1,2019,total assets were $2,000,000,total liabilities were $1,200,000 and total stockholders' equity was $800,000.
Calculate Ridgetop's return on assets.

Question

Ridgetop Corporation reported the following amounts on its balance sheet at December 31,2019:
  On January 1,2019,total assets were $2,000,000,total liabilities were $1,200,000 and total stockholders' equity was $800,000.
Calculate Ridgetop's return on assets.

Quizplus · Accepted Answer

The Answer of Ridgetop Corporation reported the following amounts on its balance sheet at December 31,2019:
  On January 1,2019,total assets were $2,000,000,total liabilities were $1,200,000 and total stockholders' equity was $800,000.
Calculate Ridgetop's return on assets.

Ridgetop Corporation Reported the Following Amounts on Its Balance Sheet