Selected data from the 2015 financial statements of KRJ Manufacturing are presented below.
Calculate the return on assets for the year, presenting your answer in percentage terms, rounded to two decimal places. e.g. 20.00%.
| Sales |
$101,937 |
| Gross profits |
$54,276 |
| Operating profits (EBIT) |
$28,456 |
| Earnings before taxes (EBT) |
$26,626 |
| Net profits |
$19,563 |
| Tax expense |
8,427 |
| Depreciation expense |
$11,680 |
| Total assets, Dec. 31, 2014 |
$81,104 |
| Total assets, Dec. 31, 2015 |
$84,014 |
| Total equity, Dec. 31, 2014 |
$42,294 |
| Total equity, Dec. 31, 2015 |
$40,585 |
| Cash flow from operations |
$32,765 |