Net income $127,530 Enterest expense 11,093 Average total assets 2,069,000
Managerial Accounting
15th Edition
ISBN:9781337912020
Author:Carl Warren, Ph.d. Cma William B. Tayler
Publisher:Carl Warren, Ph.d. Cma William B. Tayler
Chapter16: Financial Statement Analysis
Section: Chapter Questions
Problem 9BE
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![A company reports the following income statement and balance sheet information for the current year:
Net income
$127,530
Interest expense
11,093
Average total assets
2,069,000
Determine the return on total assets. Round the percentage to one decimal place.
%](/v2/_next/image?url=https%3A%2F%2Fcontent.bartleby.com%2Fqna-images%2Fquestion%2F438ac4b3-fc05-44ae-8357-fe2d258a6912%2Fb154d351-4914-42da-92c1-338da7c8ddd1%2F6dhjog_processed.png&w=3840&q=75)
Transcribed Image Text:A company reports the following income statement and balance sheet information for the current year:
Net income
$127,530
Interest expense
11,093
Average total assets
2,069,000
Determine the return on total assets. Round the percentage to one decimal place.
%
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