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During 2009, Ritter Corporation reported: Net sales 30,000,000 Beginning total assets 12,000,000 Net earnings 1,500,000 Ending total assets 20,000,000 Depreciation expense 400,000 Property, plant, equipment 8,000,000 Accumulated depreciation 2,000,000 Ritter's return on assets is: a. 7.5% b. 9.4% c. 12.5% d. 7.9%

During 2009, Ritter Corporation reported: Net sales 30,000,000 Beginning total assets 12,000,000 Net earnings 1,500,000 Ending total assets 20,000,000 Depreciation expense 400,000 Property, plant, equipment 8,000,000 Accumulated depreciation 2,000,000 Ritter's return on assets is: a. 7.5% b. 9.4% c. 12.5% d. 7.9%

EBK CONTEMPORARY FINANCIAL MANAGEMENT
EBK CONTEMPORARY FINANCIAL MANAGEMENT
14th Edition
ISBN:9781337514835
Author:MOYER
Publisher:MOYER
Chapter3: Evaluation Of Financial Performance
Section: Chapter Questions
Problem 19P
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Ritter's return on asset is:

During 2009, Ritter Corporation reported: Net sales 30,000,000 Beginning total assets 12,000,000 Net earnings 1,500,000 Ending total assets 20,000,000 Depreciation expense 400,000 Property, plant, equipment 8,000,000 Accumulated depreciation 2,000,000 Ritter's return on assets is: a. 7.5% b. 9.4% c. 12.5% d. 7.9%
Transcribed Image Text:During 2009, Ritter Corporation reported: Net sales 30,000,000 Beginning total assets 12,000,000 Net earnings 1,500,000 Ending total assets 20,000,000 Depreciation expense 400,000 Property, plant, equipment 8,000,000 Accumulated depreciation 2,000,000 Ritter's return on assets is: a. 7.5% b. 9.4% c. 12.5% d. 7.9%
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