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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.

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
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.
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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