Everest Manufacturing reports the following financial data for the year: • Net Income = $280,000 Interest Expense = $47,500 Average Total Assets = $3,200,000 Determine the return on total assets (ROA). Round to one decimal place.

Everest Manufacturing reports the following financial data for the year: • Net Income = $280,000 Interest Expense = $47,500 Average Total Assets = $3,200,000 Determine the return on total assets (ROA). Round to one decimal place.

Principles of Accounting Volume 2

19th Edition

ISBN:9781947172609

Author:OpenStax

Publisher:OpenStax

Chapter12: Balanced Scorecard And Other Performance Measures

Section: Chapter Questions

Problem 6EA: During the current year, Sokowski Manufacturing earned income of $350,000 from total sales of...

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Everest Manufacturing reports the following financial data
for the year:
•
Net Income = $280,000
Interest Expense = $47,500
Average Total Assets = $3,200,000
Determine the return on total assets (ROA). Round to one
decimal place.

Definition Definition Structural system an enterprise uses to collect, store, report, retrieve, and process financial data. Accounting information systems are used by business analysts, auditors, accountants, and consultants for accurate and efficient access to financial data.

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