A company reports the following income statement and balance sheet information for the current year: Net income Interest expense Average total assets $410,000 90,000 5,000,000 Determine the return on total assets. %

A company reports the following income statement and balance sheet information for the current year: Net income Interest expense Average total assets $410,000 90,000 5,000,000 Determine the return on total assets. %

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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Question

PE.17-09B - Return on total assets
A company reports the following income statement and balance sheet information for the
current year:
Net income
Interest expense
Average total assets
$410,000
90,000
5,000,000
Determine the return on total assets.
I
%

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