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ABC Company reported net income of $24,000 on gross sales of $110,000. The company has total assets of $215,000, of which $120,000 is property, plant, and equipment. What is the company's return on investment?

Does return on investment include all assets? Is the info on gross sales needed or just extra information? I think the answer is ROI = net sales / avg. total assets = $24,400/$215,200 = .1134 = 11%. Is my logic correct?

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Accounting Basics, Accounting

Category:- Accounting Basics
Reference No.:- M9414562

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