Question
Wichita, Incorporated reported the following amounts on its financial statements prepared as of the end of the current accounting period: Revenues Expenses Net Income
Wichita, Incorporated reported the following amounts on its financial statements prepared as of the end of the current accounting period: Revenues Expenses Net Income Current Assets Total Assets $216,000 192,800 $ 58,000 174,000 $ 23,200 Long-term Assets $232,000 Current Liabilities $ 36,000 Long-term Liabilities 88,000 Total Liabilities 124,000 Common Stock $ 48,000 Retained Earnings 60,000 Total Equity 108,000 Total Liabilities and Equity $232,000 What is the company's return-on-assets ratio? Multiple Choice 19% 5%
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