The following information is provided for Fremont Inc. and Morgan Group: Fremont Inc. Morgan Group (in $ millions) Net income 2018 $250 $500 Net sales 2018 2,000 5,000 Total assets 12/31/16 1,300 2,800 Total assets 12/31/17 1,500 3,400 Total assets 12/31/18 1,700 4,200 Investment in other firms $50 $100 What is Morgan Group's return on assets (rounded) for 2018? a. 10.9% b. 12.5% c. 11.8% d. 13.1% e. 9.6% f. 11.3%

Fundamentals Of Financial Management, Concise Edition (mindtap Course List)
10th Edition
ISBN:9781337902571
Author:Eugene F. Brigham, Joel F. Houston
Publisher:Eugene F. Brigham, Joel F. Houston
Chapter3: Financial Statements, Cash Flow, And Taxes
Section: Chapter Questions
Problem 19SP
Question

Don't want AI solution

The following information is provided for Fremont Inc. and Morgan Group:
Fremont Inc. Morgan Group
(in $ millions)
Net income 2018
$250
$500
Net sales 2018
2,000
5,000
Total assets 12/31/16
1,300
2,800
Total assets 12/31/17
1,500
3,400
Total assets 12/31/18
1,700
4,200
Investment in other firms $50
$100
What is Morgan Group's return on assets (rounded) for 2018?
a. 10.9%
b. 12.5%
c. 11.8%
d. 13.1%
e. 9.6%
f. 11.3%
Transcribed Image Text:The following information is provided for Fremont Inc. and Morgan Group: Fremont Inc. Morgan Group (in $ millions) Net income 2018 $250 $500 Net sales 2018 2,000 5,000 Total assets 12/31/16 1,300 2,800 Total assets 12/31/17 1,500 3,400 Total assets 12/31/18 1,700 4,200 Investment in other firms $50 $100 What is Morgan Group's return on assets (rounded) for 2018? a. 10.9% b. 12.5% c. 11.8% d. 13.1% e. 9.6% f. 11.3%
Expert Solution
steps

Step by step

Solved in 2 steps

Blurred answer
Similar questions
  • SEE MORE QUESTIONS
Recommended textbooks for you
Fundamentals Of Financial Management, Concise Edi…
Fundamentals Of Financial Management, Concise Edi…
Finance
ISBN:
9781337902571
Author:
Eugene F. Brigham, Joel F. Houston
Publisher:
Cengage Learning