Assume metro company had a net income of $2,100 for the year ending december 2018. its beginning and ending total assets were $33,500 and $19,500, respectively. calculate metro's return on assets (roa). (round your percentage answer to two decimal places.)

7.92%

Explanation:

The computation of the return on total assets is shown below:

Return on assets = (Net income) ÷ (average of total assets)

where,  

Net income is $2,100

Average total assets = (Beginning total assets + ending total assets) ÷ 2

= ($33,500 + $19,500) ÷ 2

= $26,500

Now put these values to the above formula  

So, the ratio would equal to

= $2,100 ÷ $26,500

= 7.92%

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