Using the financial statements below, calculate the company’…
Using the financial statements below, calculate the company’s return on assets. Enter your answer as a percentage and round to two decimal places. If your answer is negative, include a minus side before your answer. 20X2 20X1 Cash 16,335.00 25,153.00 Accounts receivable (net) 43,748.00 57,068.00 Inventory 17,597.00 3,851.00 Plant assets (net) 40,000.00 21,500.00 Total assets 117,680.00 107,572.00 Accounts payable 16,508.00 44,759.00 Deferred revenues 53,074.00 14,040.00 Long-term note payable 8,098.00 16,773.00 Common stock ($2 par) 3,000.00 2,000.00 Additional paid in capital 37,000.00 30,000.00 Total liabilities and stockholders’ equity 117,680.00 107,572.00 Revenues 22,154.00 33,226.00 Cost of goods sold 15,508.00 23,258.00 Gross profit 6,646.00 9,968.00 Operating expenses 5,317.00 7,177.00 Income from operations 1,329.00 2,791.00 Other revenues (expenses), net (includes taxes) -1,500.00 -500.00 Net income -171.00 2,291.00 Answer: %