In 2020, Artesia, Inc, reported ($ 300) million in sales, ($ 17) million in net income, ($
Question:
In 2020, Artesia, Inc, reported \(\$ 300\) million in sales, \(\$ 17\) million in net income, \(\$ 1\) million in interest expense, and average total assets of \(\$ 120\) million. What is Artesia's return on assets in 2020? Assume an industry average of \(16 \%\). Did the company's return on assets improve or deteriorate? What could be some reasons for the change?
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Related Book For 
Financial Accounting
ISBN: 9780135433065
7th Canadian Edition
Authors: Walter Harrison, Wendy Tietz, C. Thomas, Greg Berberich, Catherine Seguin
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