The Following Information Is Available from the Financial Statements of Cosmotropolis

question 118

Short Answer

The following information is available from the financial statements of Cosmotropolis
$\begin{array}{lrrr}&2009&2010&2011\\\text { Total assets, December 31 } & \$ 341,585 & \$ 395,412 & \$ 922,357 \\ \text { Net income } & 35,550 & 49,512 & 68,149 \\\end{array}$
What is Cosmotropolis' return on total assets for 2011?

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Definitions:

Elastic

Describes the sensitivity of demand or supply for a good or service to changes in its price, with higher elasticity indicating greater sensitivity.

Tax Burden

The total amount of taxes imposed on an individual, company, or economic sector by the government, often expressed as a percentage of income or GDP.

Slightly Elastic

Refers to a situation where a small change in price leads to a relatively small change in the quantity demanded or supplied.

Very Inelastic

Describes a situation where demand or supply hardly changes in response to changes in price.