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- .Return on total assets; a company reports the following income statement and balance sheet information for the current year: net income $178,320 interest expense $31,470 average total assets $3,330,000. A. Determine the return of total assets. B. Determine the company's price- earnings ratio.Question: A company had net income of $2,660,000, net sales of $25,000,000, and average total assets of $8,000,000. What is their return on total assets?
- Return on Total Assets A company reports the following income statement and balance. sheet information for the current year: Net income Interest expense Average total assets $471,500 83,200 6,450,000 Determine the return on total assets. If required, round the answer to one decimal place. %ReturnWant the Correct answer
- A return on assets of 5.15% means that a company is earning: O a. a $5.15 return on every $100 of assets minus liabilities. O b. a $5.15 return on every $100 of total assets. O c. a $5.15 return on every $100 of current assets. O d. a $5.15 return on every $100 invested in long-term assets.A company reports the following income statement and balance sheet information for the current year: Net income $435,590 Interest expense 76,870 Average total assets 4,380,000 Determine the return on total assets. If required, round the answer to one decimal place. %A company reports the following income statement and balance sheet information for the current year: Line Item Description Amount Net income $390,000 Interest expense 60,000 Average total assets 4,500,000 Determine the return on total assets.