Question
During 2022, Richlieu Corporation reported: Sales...................................................... ... $30,000,000 Net income............................................ ....... 1,500,000 Depreciation expense........................... .......... 400,000 Beginning total assets........................... ... $12,000,000 Ending total assets................................ .....
During 2022, Richlieu Corporation reported: Sales...................................................... ... $30,000,000 Net income............................................ ....... 1,500,000 Depreciation expense........................... .......... 400,000 Beginning total assets........................... ... $12,000,000 Ending total assets................................ ..... 20,000,000 Property, plant, and equipment..................... 8,000,000 Accumulated depreciation............................. 2,000,000 Richlieus return on assets is:
Select one:
7.5%
9.4%
7.9%
12.5%
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