BAROT, INC. Balance Sheet As of December 31, 2018 and 2017 2018 2017 Total Assets $ 32,978 $ 30,660 Total Liabilities 19,400 11,560 Total Stockholders' Equity (all common) 13,578 19,100 Total Liabilities and Stockholders' Equity $ 32,978 $ 30,660
BAROT, INC. Balance Sheet As of December 31, 2018 and 2017 2018 2017 Total Assets $ 32,978 $ 30,660 Total Liabilities 19,400 11,560 Total Stockholders' Equity (all common) 13,578 19,100 Total Liabilities and Stockholders' Equity $ 32,978 $ 30,660
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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Computing
Barot’s 2018 financial statements reported the following items—with 2017 figures given for comparison:
Net income for 2018 was $3,910, and interest expense was $240. Compute Barot’s rate of return on total assets for 2018. (Round to the nearest percent.)
Transcribed Image Text:BAROT, INC.
Balance Sheet
As of December 31, 2018 and 2017
2018
2017
Total Assets
$ 32,978
$ 30,660
Total Liabilities
19,400
11,560
Total Stockholders' Equity (all common)
13,578
19,100
Total Liabilities and Stockholders' Equity
$ 32,978
$ 30,660
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