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miskamm [114]
3 years ago
11

Dawson Electronic Services had revenues of $106,000 and expenses of $63,000 for the year. Its assets at the beginning of the yea

r were $413,000. At the end of the year assets were worth $463,000. Calculate its return on assets.
Business
1 answer:
Kisachek [45]3 years ago
7 0

Answer:Return On Assets=9.8%

Explanation:

Return On Assets =Net income/Average total assets

But

Net income=Revenues-Expenses

=$106,000 - $63,000

= $43,000

And Average total assets  is given as  (Beginning assets +Ending assets)/2

= ($413,000+$463000)/2=$876,000 /2

=$438,000

Therefore Return On Assets =Net income/Average total assets

= $43,000 / $438,000

=0.098 x 100

=9.8%

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Rienzi Farms grows sugar cane and soybeans on its 600 acres of land. An acre of soybeans requires 3 hours to plant and brings in
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133 acres of sugar cane

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We setup the fromulas and use excel solver:

labor hours:  3 x sugar acres + 4 x soybean <= 1,600

profit  = 1,000 x sugar acres + 2,000 soybean

with the restriction soybean <= 300

                 SOLVER  

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sugar cane 133  x 3 = 399       x 1,000 =    133,000

soybeans 300  x 4 = 1,200           x 2,000 =<u>  600,000  </u>

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