Compute the following:
(9) return on total assets
(10) return on equity.
Homework Answers
Return on assets= net income/ total assets
Note: beginning assets not given so total assets taken for calculation
Net income=33351
Total assets=248750
Return on assets= 33351/248750=0.1341 or 13.41%
Return on equity = net income/shareholders equity
Shareholders equity= common stock + retained earnings
Shareholders equity=85000+66750=151750
Return on equity= 33351/151750=0.2198 or 21.98%
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