Answer:
return on assets= 0.09= 9%
Explanation:
Giving the following information:
The Kingwood Company reported a net income of $40,000 and the average total assets of $440,000.
To calculate the return on assets, we need to use the following formula:
return on assets= net income / average total assets
return on assets= 40,000 / 440,000= 0.09
