A business reports: ⚫ Net income: $15,000,000 . Total assets: $45,000,000 ⚫ Total debt: $20,000,000 Calculate the business's Return on Assets.
A business reports: ⚫ Net income: $15,000,000 . Total assets: $45,000,000 ⚫ Total debt: $20,000,000 Calculate the business's Return on Assets.
Cornerstones of Financial Accounting
4th Edition
ISBN:9781337690881
Author:Jay Rich, Jeff Jones
Publisher:Jay Rich, Jeff Jones
Chapter12: Fainancial Statement Analysis
Section: Chapter Questions
Problem 53CE: Profitability Ratios The following data came from the financial statements of Israel Company:...
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![A business reports:
⚫ Net income: $15,000,000
. Total assets: $45,000,000
⚫ Total debt: $20,000,000
Calculate the business's Return on Assets.](/v2/_next/image?url=https%3A%2F%2Fcontent.bartleby.com%2Fqna-images%2Fquestion%2Fd10513cd-d110-4450-981a-bc0a4eabf7c5%2F02203475-2de2-469e-a4e5-052b13a1c849%2Fsipi8m_processed.jpeg&w=3840&q=75)
Transcribed Image Text:A business reports:
⚫ Net income: $15,000,000
. Total assets: $45,000,000
⚫ Total debt: $20,000,000
Calculate the business's Return on Assets.
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