A company reports the following income statement and balance sheet information for the current year: Net income $638,800 Interest expense 112,730 Average total assets 5,330,000 Determine the return on total assets. If required, round the answer to one decimal place.

A company reports the following income statement and balance sheet information for the current year: Net income $638,800 Interest expense 112,730 Average total assets 5,330,000 Determine the return on total assets. If required, round the answer to one decimal place.

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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