The following selected information is from Acme's annual report for the years ended December 31:

-Refer to the Acme annual report above.Calculate return on assets for 2012.
A)33.1%
B)38.1%
C)22.1%
D)The answer cannot be determined from the information given.

Question

The following selected information is from Acme's annual report for the years ended December 31:

-Refer to the Acme annual report above.Calculate return on assets for 2012.
A)33.1% 
B)38.1% 
C)22.1% 
D)The answer cannot be determined from the information given.

Quizplus · Accepted Answer

Return on assets = Net income / Average total assets = $1,200,000 / $3,600,000 = 33.3%

The Following Selected Information Is from Acme's Annual Report for the Years