A company, Hendrix Corporation, reports the following income statement and balance sheet information for the current year: Net Income = $275,600 Interest Expense = $45,750 Average Total Assets = = $3,200,000 Determine the Return on Total Assets (ROA).

A company, Hendrix Corporation, reports the following income statement and balance sheet information for the current year: Net Income = $275,600 Interest Expense = $45,750 Average Total Assets = = $3,200,000 Determine the Return on Total Assets (ROA).

Managerial Accounting: The Cornerstone of Business Decision-Making

7th Edition

ISBN:9781337115773

Author:Maryanne M. Mowen, Don R. Hansen, Dan L. Heitger

Publisher:Maryanne M. Mowen, Don R. Hansen, Dan L. Heitger

Chapter15: Financial Statement Analysis

Section: Chapter Questions

Problem 19BEA

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Question

Determine the return on total assets of this financial accounting question

A company, Hendrix Corporation, reports the following
income statement and balance sheet information for the
current year:
Net Income = $275,600
Interest Expense = $45,750
Average Total Assets = = $3,200,000
Determine the Return on Total Assets (ROA).

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