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 $560,350 98,880 4,610,000 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 $560,350 98,880 4,610,000 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
Interest expense
Average total assets
$560,350
98,880
4,610,000
Determine the return on total assets. If required, round the answer to one decimal place.
%
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