M5-7 (Algo) Computing and Interpreting Return on Assets LO5-4 Saunders, Inc., recently reported the following December 31 amounts in its financial statements (dollars in thousands) Current Year $ 280 Prior Year $ 24e Gross profit Net income Total assets Total shareholders' equity 1,e2e 840 1-a. Compute return on assets for the current year. (Enter your answer as a percentage rounded to 1 decimal place is 0.123 should be entered as 12.3).) 1-b. What does this ratio measure? Ratio measure Pe So Next >