Return on Total Assets A company reports the following income statement and balance sheet information for the current year: Net income $625,110 Interest expense 110,310 Average total assets 6,180,000 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 $625,110 Interest expense 110,310 Average total assets 6,180,000 Determine the return on total assets. If required, round the answer to one decimal place
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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Return on Total Assets
A company reports the following income statement and balance sheet information for the current year:
Net income | $625,110 |
Interest expense | 110,310 |
Average total assets | 6,180,000 |
Determine the return on total assets. If required, round the answer to one decimal place.
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