Question
Assets Amount (USD) Liabilities and Equity Amount (USD) Cash $180,000 Accounts Payable $60,000 Accounts Receivable $120,000 Notes Payable $70,000 Inventory $140,000 Long-term Debt $180,000 Property
Assets | Amount (USD) | Liabilities and Equity | Amount (USD) |
Cash | $180,000 | Accounts Payable | $60,000 |
Accounts Receivable | $120,000 | Notes Payable | $70,000 |
Inventory | $140,000 | Long-term Debt | $180,000 |
Property | $350,000 | Shareholders' Equity | $450,000 |
Calculate the return on assets (ROA) for the company based on the provided balance sheet and the net income of $80,000.
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Accounting
Authors: Carl S. Warren, James M. Reeve, Jonathan Duchac
25th edition
978-1285069609, 1285069609, 978-1133607601
