Boaz Company had beginning of year assets of $100 million and end of year assets of $120 million. Boaz's net income is $5 million. Calculate Boaz Company's return on assets.
A. 4.5%
B. 4.1%
C. 5%
D. 45.4%
Ans: A. 4.5%
$5 million/[($100 million + $120 million)/2] = 4.5 %
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