The following information is provided for Ivanhoe Company and Sarasota Corporation. (in $ millions) Ivanhoe Company Sarasota Corporation
Net income 2022 $170 $350
Net sales 2022 1790 4790
Total assets 12/31/20 1075 2340
Total assets 12/31/21 1285 3150
Total assets 12/31/22 1195 4070
What is Bridgeport's return on assets (rounded) for 2017?

9.695%

Explanation:

Based on the information given in the question, Bridgeport's return on assets for 2022 will be:

= Net income / Average total assets

= $350 / ($3150+$4070/2)

= $350/($7220/2)

= $350/$3610

= 0.09695

= 9.695%

Therefore, Bridgeport's return on assets for 2022 will be 9.695%

(a) when insurance is obtained through a reciprocal insurer, the insureds are sharing the risk of loss with other subscribers of that reciprocal.

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