Return on Total Assets A company reports the following income statement and balance sheet information for the current year: $131,960 Interest expense 23,290 Average total assets 2,250,000 Determine the return on total assets. If required, round the answer to one decimal place. 5.9 X % Net income

FINANCIAL ACCOUNTING
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Chapter1: Financial Statements And Business Decisions
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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
$131,960
Interest expense
23,290
Average total assets
2,250,000
Determine the return on total assets. If required, round the answer to one decimal place.
5.9 X %
Transcribed Image Text:Return on Total Assets A company reports the following income statement and balance sheet information for the current year: Net income $131,960 Interest expense 23,290 Average total assets 2,250,000 Determine the return on total assets. If required, round the answer to one decimal place. 5.9 X %
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