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30 July, 16:34

Swiss Group reports net income of $26,000 for 2017. At the beginning of 2017, Swiss Group had $184,000 in assets. By the end of 2017, assets had grown to $234,000. What is Swiss Group's 2017 return on assets?

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  1. 30 July, 17:58
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    12.44%

    Explanation:

    The computation of the return on assets is shown below:

    As we know that

    Return on asset = Net income : Average of total asset

    = ($26,000) : ($184,000 + $234,000) : 2

    = ($26,000) : ($209,000)

    = 12.44%

    We simply applied the above formula so that the return on assets could be determined

    Therefore we considered all the information given in the question
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