**Return on Total Assets**A company reports the following income statement and balance sheet information for the current year:- **Net income**: $471,500- **Interest expense**: $83,200- **Average total assets**: $6,450,000Determine the return on total assets. If required, round the answer to one decimal place.[Input Box] %(Note for educational purposes: The Return on Total Assets (ROTA) is calculated by adding net income and interest expense, then dividing by the average total assets. The formula is: **ROTA = (Net Income + Interest Expense) / Average Total Assets.**)Source: An educational website on financial accounting and analysis.

Ratio analysis helps to analyze the financial statements of the company. The management can take…

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. %

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. %

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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am. 119.
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