A company had net incomeof $2,665,000, net sales of$25,500,000, and averagetotal assets of $8,500,000.Its return on total assetsequals

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Answered: A company had net income of $2,665,000,…

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

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A company had net income of $2,665,000, net sales of $25,500,000, and average total assets of $8,500,000. Its return on total assets equals