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Question 8 2 pts Please use the following numbers to calculate the firm's Return on Assets ratio: Balance Sheet (2020) Balance Sheet (2021) Income Statement
Question 8 2 pts Please use the following numbers to calculate the firm's Return on Assets ratio: Balance Sheet (2020) Balance Sheet (2021) Income Statement (2020-2021) Current Assets: 7,000 Current Assets: 14,000 Sales Revenue: 15,000 Total Assets: 15,000 Total Assets: 25,000 Net Sales: 10,000 Gross Profit: 5,000 Current Liabilities: 4,000 Current Liabilities: 8,000 Operating Income: 2,000 Total Liabilities: 4,500 Total Owners' Equity: 10,500 Total Liabilities: 9,000 Total Owners' Equity: 16,000 Net Profit (Income): 1,000 (make sure you're using the formula from the video, the book has an error.) O 0.07 O 0.04 0.05 O 0.10
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