Question
The following information is provided for Pharoah Company and Flounder Corp.: (in $ millions) Pharoah Company Flounder Corp. Net income 2017 $120 $410 Net sales
The following information is provided for Pharoah Company and Flounder Corp.:
(in $ millions)
Pharoah Company
Flounder Corp.
Net income 2017
$120
$410
Net sales 2017
1325
4560
Total assets 12/31/15
1040
2310
Total assets 12/31/16
1125
3160
Total assets 12/31/17
1190
4000
What is Flounder's return on assets (rounded) for 2017?
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Advanced Accounting
Authors: Debra JeterJames Reeve, Jonathan Duchac, Horace Brock, Paul Chaney
4th Edition
0470506989, 978-0470506981
