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The following information was available for the year ended December 31, 2019: Sales $ 300,000 Net income 50,000 Average total assets 750,000 Average total stockholders' equity 500,000 ROI for the year ended December 31, 2019 was: Choices: 20
The following information was available for the year ended December 31, 2019:
Sales $ 300,000
Net income 50,000
Average total assets 750,000
Average total stockholders' equity 500,000
ROI for the year ended December 31, 2019 was:
Choices:
20.0%
16.7%
6.7%
10.0%
Expert Solution
Computation of Return on Investment (ROI) for the Year Ended December 31, 2019:
Return on Investment (ROI) = Net Income / Average Total Assets
= $50,000/$750,000
Return on Investment (ROI) = 6.67% or 6.7%
So, the correct option is 3rd "6.7%".
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