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During 2009, Rita Corporation reported: Net sales 30,000,000 Beginning total assets 12,000,000 Net earnings 1,500,000 Ending total assets 20,000,000 400,000 Depreciation expense Property, plant, equipment 8,000,000 Accumulated depreciation 2,000,000 What is Rita's return on assets?

During 2009, Rita Corporation reported: Net sales 30,000,000 Beginning total assets 12,000,000 Net earnings 1,500,000 Ending total assets 20,000,000 400,000 Depreciation expense Property, plant, equipment 8,000,000 Accumulated depreciation 2,000,000 What is Rita's return on assets?

Intermediate Financial Management (MindTap Course List)
Intermediate Financial Management (MindTap Course List)
13th Edition
ISBN:9781337395083
Author:Eugene F. Brigham, Phillip R. Daves
Publisher:Eugene F. Brigham, Phillip R. Daves
Chapter6: Accounting For Financial Management
Section: Chapter Questions
Problem 4P: Talbot Enterprises recently reported an EBITDA of $8 million and net income of $2.4 million. It had...
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During 2009, Rita Corporation reported: Net sales 30,000,000 Beginning total assets 12,000,000 Net earnings 1,500,000 Ending total assets 20,000,000 400,000 Depreciation expense Property, plant, equipment 8,000,000 Accumulated depreciation 2,000,000 What is Rita's return on assets?
Transcribed Image Text:During 2009, Rita Corporation reported: Net sales 30,000,000 Beginning total assets 12,000,000 Net earnings 1,500,000 Ending total assets 20,000,000 400,000 Depreciation expense Property, plant, equipment 8,000,000 Accumulated depreciation 2,000,000 What is Rita's return on assets?
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