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The answer is 6.90. Could anyone explain the process to get it. Thanks! Laurier Inc. had total assets at the beginning of the year of
The answer is 6.90. Could anyone explain the process to get it. Thanks!
Laurier Inc. had total assets at the beginning of the year of S 5000000 and total assets at the end of the year of S 1000000. The following contains information on Lauriet Inc.'s statement of income for the year: Sales S 800000 Interest expense S 9000 Income tax expense S60000 Net income S200000 Calculate Laurier Inc.'s retum on assets (ROA) for the year. Express your answer as a percentage rounded to two digits (i.c.3.84) Step by Step Solution
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