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Applying Excel 11: Return on total assets Which of the following formulas correctly calculates return on total assets for 2022? Hint: Remember that Excel uses
Applying Excel 11: Return on total assets Which of the following formulas correctly calculates return on total assets for 2022? Hint: Remember that Excel uses the order of operations. PARENTHESES then EXPONENTS then MULTIPLICATION and DIVISION then ADDITION and SUBTRACTION. Use parentheses around any calculations in either the numerator or denominator. 12345 Comparative Income Statements For Years Ended December 31, 2023-2020 2023 2022 4 Net sales 5 Cost of goods sold 6 Gross margin $318,000 $284,000 2021 $247,000 2020 $174,000 143,000 254,000 161,000 149,000 175,000 30,000 86,000 25,000 7 Operating expenses 8 Net income 114,000 14,000 39,000 11,000 $61,000 $16,000 $47,000 $14,000 9 10 11 Comparative Balance Sheets For Years Ended December 31, 2023-2020 12 2023 2022 2021 2020 13 Cash $56,000 $4,000 $30,000 $18,000 14 Accounts receivable, net 89,000 80,000 69,000 49,000 15 Merchandise inventory 36,000 89,000 40,000 52,000 16 Plant assets, net 130,000 120,000 100,000 90,000 17 Total assets 18 19 Current liabilities 20 Long-term liabilities 21 Common stock $311,000 $293,000 $239,000 $209,000 $43,000 $76,000 $48,000 $45,000 100,000 110,000 100,000 120,000 30,000 30,000 30,000 30,000 22 Retained earnings 138,000 77,000 61,000 14,000 23 Total liabilities and equity $311,000 $293,000 $239,000 $209,000 Multiple Choice =+C8/AVERAGE(C17:D17) =+C8/SUM(C17:D17) -AVERAGE(C17:D17)/+C8 -+C4/AVERAGE(C17:D17)
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