Gullible Corporation ended the year 2020 with the following financial information: Net Income of $53,475...

50.1K

Verified Solution

Question

Accounting

Gullible Corporation ended the year 2020 with the following financial information: Net Income of $53,475 and Total Assets of $722,340. Total assets for 2019 amounted to $785,670. Compute for Gullible's Return on Assets for 2020.
Select one:
a.10%
b.7%
c.5%
d.12%
image

Answer & Explanation Solved by verified expert
Get Answers to Unlimited Questions

Join us to gain access to millions of questions and expert answers. Enjoy exclusive benefits tailored just for you!

Membership Benefits:
  • Unlimited Question Access with detailed Answers
  • Zin AI - 3 Million Words
  • 10 Dall-E 3 Images
  • 20 Plot Generations
  • Conversation with Dialogue Memory
  • No Ads, Ever!
  • Access to Our Best AI Platform: Flex AI - Your personal assistant for all your inquiries!
Become a Member

Other questions asked by students