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Oduvanchick [21]
3 years ago
7

The Kingwood Company reported net income of $40,000 and average total assets of $440,000. Calculate the company's return on asse

ts.
Business
1 answer:
Svet_ta [14]3 years ago
4 0

Answer:

return on assets= 0.09= 9%

Explanation:

Giving the following information:

The Kingwood Company reported a net income of $40,000 and the average total assets of $440,000.

To calculate the return on assets, we need to use the following formula:

return on assets= net income / average total assets

return on assets= 40,000 / 440,000= 0.09

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