Rosalind company reported revenues of $111,500, expenses of $92,545, and net income of $18,955 for the year. assets totaled $200,000 at the beginning of the year and $246,000 at the end of the year. the company's return on assets for the year (round the percent to one decimal) is

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Nitro

Business

7 February, 17:41

Rosalind company reported revenues of $111,500, expenses of $92,545, and net income of $18,955 for the year. assets totaled $200,000 at the beginning of the year and $246,000 at the end of the year. the company's return on assets for the year (round the percent to one decimal) is

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Leonard Arroyo · Answer 1

Return on assets =

net income:average total assets

Net income=18,955

Average total assets

(200,000+246,000) : 2=223,000

Return on assets is

18,955:223,000

=0.085