The balance sheet of Hidden Valley Farms reports total assets of $450,000 and $550,000 at the beginning and end of the year, respectively. Net income and sales for the year are $100,000 and $800,000, respectively.What is Hidden Valley's return on assets?
A. 18%.
B. 20%.
C. 160%.
D. 10%.
Answer: B
You might also like to view...
A true global strategic partnership is unique and different. Using the example of Sony's strategic alliance with Samsung, discuss attributes that are needed for a productive working partnership
What will be an ideal response?
A seller who tenders nonconforming goods has reasonable grounds to believe that the buyer will accept the tender if it includes a price allowance.
Answer the following statement true (T) or false (F)
Interest received on investments would be included in the operating activities category on the statement of cash flows
Indicate whether the statement is true or false
Strods Company reported the following purchases and sales for its only product. Strods uses a perpetual inventory system. Determine the cost assigned to cost of goods sold using LIFO.DateActivitiesUnits Acquired at CostUnits Sold at RetailMay 1Beginning Inventory250 units @ $10 5Purchase270 units @ $12 10Sales 190 units @ $2015Purchase150 units @ $13 24Sales 140 units @ $21
A. $3590 B. $4230 C. $3860 D. $4100 E. $3460