Answered: PetLove Inc's total assets at the end…

PetLove Inc's total assets at the end of the fiscal year were $450,000 and its net income after taxes was $40,500. What was its return on total assets?

Intermediate Accounting: Reporting And Analysis

3rd Edition

ISBN:9781337788281

Author:James M. Wahlen, Jefferson P. Jones, Donald Pagach

Publisher:James M. Wahlen, Jefferson P. Jones, Donald Pagach

Chapter5: The Income Statement And The Statement Of Cash Flows

Section: Chapter Questions

Problem 1RE: Brandt Corporation had sales revenue of 500,000 for the current year. For the year, its cost of...

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PetLove Inc's total assets at the end of
the fiscal year were $450,000 and its
net income after taxes was $40,500.
What was its return on total assets?

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