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A company reports the following information: Sales of $320,000; Beginning assets of $480,000, Ending assets of $520,000; Net Income of $26,000. The return on assets (to the nearest whole number) is?

A company reports the following information: Sales of $320,000; Beginning assets of $480,000, Ending assets of $520,000; Net Income of $26,000. The return on assets (to the nearest whole number) is?

Managerial Accounting: The Cornerstone of Business Decision-Making
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 51E: Juroe Company provided the following income statement for last year: Juroes balance sheet as of...
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A company reports the following information: Sales of $320,000; Beginning assets of $480,000, Ending assets of $520,000; Net Income of $26,000. The return on assets (to the nearest whole number) is?
Transcribed Image Text:A company reports the following information: Sales of $320,000; Beginning assets of $480,000, Ending assets of $520,000; Net Income of $26,000. The return on assets (to the nearest whole number) is?
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