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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Question
Calculate the business 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.](/v2/_next/image?url=https%3A%2F%2Fcontent.bartleby.com%2Fqna-images%2Fquestion%2F160ea595-836f-4aff-beb5-6da7b9dab43f%2F35916911-e490-482b-85e9-836c4cc59d3b%2Fvg6knjd_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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