Answer:
Net Income = $67,032
Return on assets = 0.152 = 15.2%
Explanation:
Profit Margin = Net Income / Net sales
Net Income =Profit Margin x Net sales
Net Income = 8% x $837,900
Net Income = $67,032
Asset Turnover = Net Sales / Average total assets
1.9 = $837,900 / Average total assets
Average total assets = $837,900 / 1.9
Average total assets = $441,000
Return on Assets = Net Income / Average total Assets
Return on Assets = $67,032 / $441,000
Return on Assets = 0.152 = 15.2%
