National Company's net income last year was P65,000 and its interest expense was P15,000. Total assets at the beginning of the year were P630,000 and total assets at the end of the year were P650,000. The company's income tax rate was 25%. The company's return on total assets (based on adjusted net income) for the year was closest to: * Sample format: 11.11%

National Company's net income last year was P65,000 and its interest expense was P15,000. Total assets at the beginning of the year were P630,000 and total assets at the end of the year were P650,000. The company's income tax rate was 25%. The company's return on total assets (based on adjusted net income) for the year was closest to: * Sample format: 11.11%

Name: 11 National Company's net income last year was P65,000 and its interes
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Description: 11 National Company's net income last year was P65,000 and its interest expense was P15,000.Total assets at the beginning of the year were P630,000 and total assets at the end of the yearwere P650,000. The company's income tax rate was 25%. The compa

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

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