Canberry Corporation had net income of 108000 beginning tota

Canberry Corporation had net income of $108,000, beginning total assets of $808,000 and ending total assets of $720,000. Its return on total assets is: 4 Multiple Choice 1.53 points 00:53.31 14.1% 13.4% 0 15.0% 0748%

Solution

Correct answer is option a.14.1%

Return on total asset = Net Income / Average total asset

=108000/(808000+720000/2)

=108000/764000

=14.1%