Frazier Service Company Had a Net Income of $14,500 for the Year

question 115

Essay

Frazier Service Company had a net income of $14,500 for the year ending December 31,2016.The total assets on January 1,2016 were $28,000.The total assets on December 31,2016 were $16,000.
Calculate Frazier's return on assets (ROA).Show your computations and label your work.Round your answer to one decimal place.

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Definitions:

Wholesaler

A business or person that buys goods in large quantities from manufacturers and sells them in smaller amounts to retailers, typically at lower prices.

Clayton Act

A United States antitrust law, passed in 1914, aimed at promoting competition and preventing monopolies by prohibiting certain types of anti-competitive practices.

Capital

Financial assets or the financial value of assets, such as cash and goods, used by an individual or company to fund its operations and facilitate growth.

Competing Corporations

Companies operating in the same industry, market, or field that vie for the same customer base and resources.