The following amounts were taken from the financial statements of Blue Spruce Corp. : 2022 2021 Total
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Question:
The following amounts were taken from the financial statements of Blue Spruce Corp.:
| 2022 | 2021 | |
|---|---|---|
| Total assets | $805000 | $1014000 |
| Net sales | 736000 | 660000 |
| Gross profit | 361000 | 328000 |
| Net income | 272850 | 125000 |
| Weighted average number of common shares outstanding | 89300 | 94000 |
| Market price of common stock | $49 | $30 |
The return on assets for 2022 is
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