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Bogdan [553]
3 years ago
12

The assets for BIZZ0 in 2018 were $187,300; the liabilities for that year were $275,600; and the net income was $17,700. What wa

s the return on income for the year?
Business
1 answer:
Leto [7]3 years ago
8 0

Answer: 9.45%

Explanation:

From the question, we are informed that the assets for BIZZ0 in 2018 were $187,300, the liabilities for that year were $275,600; and the net income was $17,700.

The return on income for the year will be:

= ( Net Income / Total Assets ) × 100

= ($17,700 / $187,300) × 100

= 0.0945

= 9.45%

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