Iowa Group reports net income of $36,000 for 2010. At the beginning of 2010, Iowa Group had $135,000

Iowa Group reports net income of $36,000 for 2010. At the beginning of 2010, Iowa Group had $135,000 in assets. By the end of 2010, assets had grown to $185,000. What is Iowa Group’s 2010 return on assets? How would you assess its performance if competitors average a 10% return on assets?

 

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