The following information is available from the financial statements of Wright Industries. Compute Wright’s return on total assets for 2011 and 2012. (Round returns to one tenth of a percent.) Comment on the company’s efficiency in using its assets in 2011 and 2012.
|
2010 |
2011 |
2012 |
|
|
Total assets, December 31 |
$190,000 |
$320,000 |
$750,000 |
|
Net income |
28,200 |
36,400 |
58,300 |