Parkinson Company provides the following financial information:

Calculate return on investment based on the information given above.

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Income from operations Interest expense $200,000 45,000 Gains/(losses) on sale of equipment (2,500) Net income 152,500 Total assets at Jan 1 2,600,000 Total assets at Dec 31 3,200,000 Income from operations Interest expense $200,000 45,000 Gains/(losses) on sale of equipment (2,500) Net income 152,500 Total assets at Jan 1 2,600,000 Total assets at Dec 31 3,200,000

Answer rating: 100% (QA)

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