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Financial statements of nicklaus company

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Reference no: EM132418573

Problem: The following amounts were taken from the financial statements of Nicklaus Company:

Current liabilities 2017 2016

$280,000 $220,000

Long-term liabilities

800,000 600,000

Interest expense

100,00 50,000

Income tax expense

120,000 58,000

Net income

300,000 170,000

Net cash provided by operating activities

480,000 270,000

How much is return on assets for 2017?

  • Note-The usual equation net income/ average total sales doesn't work since there are no assets listed on the statement. I'm stuck. Please help. Thanks.

Reference no: EM132418573

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