The 2018 income statement for Anderson TV and Appliance reported sales revenue of $230,000 and...
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The 2018 income statement for Anderson TV and Appliance reported sales revenue of $230,000 and net income of $90,000. Average total assets for 2018 was $500,000. Shareholders equity at the beginning of the year was $300,000 and $30,000 was paid to shareholders as dividends. There were no other shareholders equity transactions that occurred during the year. Calculate the profit margin on sales, return on assets, and return on shareholders' equity for 2018.
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