Calculate the return on assets for a hunting outfitter store that has total assets of $350,000,current assets of $74,000,total liabilities of $280,000,accounts receivable of $12,000,net sales of $64,000,and net profit of $23,000.
A) 6.6 percent
B) 8.2 percent
C) 18.3 percent
D) 25.0 percent
E) 26.5 percent

Question

Quizplus · Accepted Answer

Return on assets = Net profit ($23,000) divided by total assets ($350,000) converted to a percentage.

Calculate the Return on Assets for a Hunting Outfitter Store