## Answers

Ans. | Return on assets = (Net income + Interest expenses) / Average assets | ||

($110,000 + $20,000) / $800,000 | |||

$130,000 / $800,000 | |||

16.3% | |||

*Average assets = (Beginning assets + Ending assets) / 2 | |||

($780,000 + $820,000) / 2 | |||

$800,000 | |||

*Assets for 2019 is used as beginning and assets for 2020 are used as | |||

ending assets. | |||

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