A Company Reported Net Sales of $900,000, Net Income of $100,000

question 70

Essay

A company reported net sales of $900,000, net income of $100,000 and average total assets of $425,000. Calculate its return on total assets.

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Definitions:

Consideration

Something of value exchanged between parties in a contract, which is necessary for the agreement to be legally binding.

Power of Attorney

An official paper authorizing an individual (the agent) to handle legal or financial issues for another person (the principal).

Legal Document

A document that states some contractual relationship or grants some right, enforceable by law.

Contractual Acts

The actions or deeds performed under the terms of a contract or agreement between parties.