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Wichita, Incorporated reported the following amounts on its financial statements prepared as of the end of the current accounting period: Revenues $230,000 Expenses 219,600 Net
Wichita, Incorporated reported the following amounts on its financial statements prepared as of the end of the current accounting period: Revenues $230,000 Expenses 219,600 Net Income $ 10,400 Current Assets $ 65,000 Long-term Assets 195,000 Total Assets $260,000 Current Liabilities $ 50,000 Long-term Liabilities 95,000 Total Liabilities 145,000 Common Stock $ 55,000 Retained Earnings 60,000 Total Equity 115,000 Total Liabilities and Equity $260,000 What is the companys return-on-assets ratio
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