Asked by Vanessa Rodriguez on Jun 20, 2024
Verified
The Moose Hardware Company had net income of $60,000 and owners' equity of $316,090. Compute the rate of return on investment. Express your answer as a percentage. (Round answer to two decimal places.)
Rate of Return on Investment
A measure of the profitability and efficiency of an investment, calculated by dividing the investment's gain by its cost.
Owners' Equity
refers to the owner's interest in the assets of a business after all liabilities have been deducted.
Net Income
The profit remaining after all expenses, taxes, and costs have been subtracted from total revenue.
- Compute the investment return rate.
Verified Answer
HT
Learning Objectives
- Compute the investment return rate.