Fundamentals Of Financial Management, Concise Edition (mindtap Course List)
10th Edition
ISBN: 9781337902571
Author: Eugene F. Brigham, Joel F. Houston
Publisher: Cengage Learning
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Transcribed Image Text:The following information is provided for Oceanic Ventures and Pinnacle Holdings:
Oceanic Ventures Pinnacle Holdings
(in $ millions)
Net income 2021
$280
$640
Net sales 2021
3,500
7,200
Total assets 12/31/19 2,400
4,600
Total assets 12/31/202,700
5,000
Total assets 12/31/21 3,000
5,500
Capital expenditures $150
$300
What is Pinnacle Holdings' return on assets (rounded) for 2021?
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