Hot shot delivery inc. provides the following year end data:
2018 2017
cash...
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Hot shot delivery inc. provides the following year end data:
2018 2017
cash $65,000 $38,000
accounts receivable 60,000 39,000
merchandise inventory 66,000 26,000
property, plant & equip 219,000 154,000
total assets 410,000 257,000
sales revenue $530,000
cost of goods sold 180,000
interest expense 30,000
net income 112,000
calculate the rate of return on total assets for 2018.
55.3%
52.5% incorrect.
42.6%
27.3%
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