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Question
Pierre's Ice Cream Company produces ultra-rich ice cream, which it sells in the Cleveland, Ohio area. Last year, it managed to exceed its target ROI for the current fiscal year. The following results were found on its financial statements:Gross Revenues: $250,000 Total Assets: $500,000
Gross Profits: $100,000 Total Liabilities: $200,000
Net Profits after Tax: $50,000 Owner's Equity: $300,000
What was the actual return on investment (ROI) for Parrish Farms?
a. 6.67 percent
b. 10 percent
c. 22 percent
d. 28 percent
e. 100
Answer
This answer is hidden. It contains 79 characters.
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