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The following information is provided for Sandhill Company and Whispering Corporation. (in $ millions) Sandhill Company Whispering Corporation Net income 2022 $130 $445 Net sales 2022 1715 4640 Total assets 12/31/20 1010 2010 Total assets 12/31/21 1085 3070 Total assets 12/31/22 1150 4100 What is Sandhill's return on assets for 2022

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Tundexi

Answer:

11.63%

Explanation:

Average assets = [Total assets 12/31/21 + Total assets 12/31/22] / 2

Average assets = [$1085 + $1150] / 2

Average assets = $2,235 / 2

Average assets = $1,117.50

Return on Assets = Net income / Average assets

Return on Assets = $130 / $1,117.50

Return on Assets = 0.1163311

Return on Assets = 11.63%

So therefore, Sandhill's return on assets for 2022 is 11.63%.

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