Multiple Choice
At January 1, 2019, Flamingo Company had total assets of $5,400,000 and at December 31, 2019, its total assets were $6,600,000. Flamingo's net sales for 2019 were $5,100,000 and its 2019 net income was $420,000.
Flamingo's return on assets for 2019 is:
A) 7.0%
B) 9.2%
C) 7.8%
D) 99.2%
Correct Answer:
Verified
Correct Answer:
Verified
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