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7 years ago
Parkinson Ladders Company provides the following financial information:

Income from operations   $400,000
Interest expense   47,000
Gains/(losses) on sale of equipment   3,000
Net income   350,000
Total assets at Jan. 1   2,600,000
Total assets at Dec .31   3,400,000

Calculate return on investment based on the information given above. (Round your answer to two decimal places.)
A) 13.33%
B) 11.67%
C) 11.76%
D) 15.38%
Textbook 
Horngren's Financial & Managerial Accounting, The Financial Chapters

Horngren's Financial & Managerial Accounting, The Financial Chapters


Edition: 5th
Authors:
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Will mark this subject solved, thanks
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