At the end of 2019,Jared Corporation reported a return on assets of 16%,average total assets of $365,000,and average total liabilities of $165,000.
What was Jared's net income?

Return on Assets

Return on assets (ROA) is a profitability ratio that measures how efficiently a company uses its assets to generate profit, calculated as net income divided by total assets.

Average Total Assets

A measure calculated by taking the sum of total assets at the beginning and end of a period and dividing by two, used to evaluate a company's asset utilization efficiency.

Average Total Liabilities

The average amount of money that a company owes to others over a specific time period, used to assess the company's financial health.