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Georgia [21]
3 years ago
14

Step Up Ladders Company provides the following financial​ information: Income from operations $ 200 comma 000 Interest expense 4

8 comma 000 ​Gains/(losses) on sale of equipment 2 comma 500 Net income 149 comma 500 Total assets at Jan. 1 2 comma 700 comma 000 Total assets at Dec .31 3 comma 300 comma 000 Calculate return on investment based on the information given above.​ (Round your answer to two decimal​ places.)
Business
1 answer:
DochEvi [55]3 years ago
4 0

Answer: 6.67%

Explanation:

Return on Investment is calculated by dividing Income from operations by average total assets.

Average Total Assets = (Beginning Value + Closing Value) / 2

= (2,700,000 + 3,300,000 )/2

= 6,000,000/2

= $3,000,000

Return on Investment = Income from operations/ Average Total Assets

Return on Investment = 200,000/3,000,000

Return on Investment = 0.06667

= 6.67%

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