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Question - In 2017, Anna, Inc. reported $700 million in sales, $22 million in net income, $1.3 million in interest expense, and average total assets of $190 million. What is Anna's return on assets in 2017? Assume an industry average of $18%. How does the company's return on assets compare to the industry average? What could be some reasons for the change?
Identify the formula to calculate return on assets (ROA). Then fill in the amounts and calculate Anna's return on assets in 2017.
Assume an industry average of 18%. How does the company's return on assets compare to the industry average?
What could be some reasons for the results of the comparison?
Common stock outstanding January 1, 2017, was 32,000 shares, and 40,000 shares were outstanding at December 31, 2017.
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