Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

The recent Balance Sheet for Cupcake Palooza included the following information: Cash: 950 Short-term investments: 409 Net Receivables: 51 Inventory: 103 Prepaid Expenses: 155 Total

image text in transcribed

The recent Balance Sheet for Cupcake Palooza included the following information: Cash: 950 Short-term investments: 409 Net Receivables: 51 Inventory: 103 Prepaid Expenses: 155 Total Assets: 6122 Current Liabilities: 1240 Total Liabilities: 6620 Net Income After Tax: 1775 Based on this information, what is the Return on Assets ratio for the company to the nearest whole number (as a percent)? Express your response as a number, such as 22 if you think their Return on Assets ratio is 22%. The recent Balance Sheet for Cupcake Palooza included the following information: Cash: 950 Short-term investments: 409 Net Receivables: 51 Inventory: 103 Prepaid Expenses: 155 Total Assets: 6122 Current Liabilities: 1240 Total Liabilities: 6620 Net Income After Tax: 1775 Based on this information, what is the Return on Assets ratio for the company to the nearest whole number (as a percent)? Express your response as a number, such as 22 if you think their Return on Assets ratio is 22%

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access to Expert-Tailored Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

blur-text-image_2

Step: 3

blur-text-image_3

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Recommended Textbook for

International Accounting

Authors: Radebaugh

4th Edition

0471136646, 9780471136644

More Books

Students also viewed these Accounting questions

Question

Uses effective delegation to develop others.

Answered: 1 week ago