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Use the information (as well as your answers) from Question 21 to answer the following: Compute the return on assets (Net income / Average total
Use the information (as well as your answers) from Question 21 to answer the following: Compute the return on assets (Net income / Average total assets) and the return on total equity (Net income / Average Shareholders' Equity) ratios for Infinity Inc. Enter your answers in the boxes below as percentages rounded to 2 decimal places. For example, if net income is $10.50 and average total assets is $110.75, then the return on assets would be 0.09481 or 9.481% which would be entered as 7.48 (Hint: Use the basic accounting identity to find missing data needed from Q21). Infinity's Return on Assets: Infinity's Return on Total Equity: Use the information (as well as your answers) from Question 21 to answer the following: Compute the return on assets (Net income / Average total assets) and the return on total equity (Net income / Average Shareholders' Equity) ratios for Infinity Inc. Enter your answers in the boxes below as percentages rounded to 2 decimal places. For example, if net income is $10.50 and average total assets is $110.75, then the return on assets would be 0.09481 or 9.481% which would be entered as 7.48 (Hint: Use the basic accounting identity to find missing data needed from Q21). Infinity's Return on Assets: Infinity's Return on Total Equity
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