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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 $646,280 114,050 5,470,000 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 $646,280 114,050 5,470,000 Determine the return on total assets. If required, round the answer to one decimal place. %

FINANCIAL ACCOUNTING
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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Module 7 Problem Set 1. BE.14.06.ALGO 2. BE.14.05.ALGO 3. BE.14.11.ALGO 4. BE.14.08.ALGO 5. BE.14.02.ALGO 6. BE.14.04.ALGO 7. BE.14.09.ALGO 8. BE.14.03.ALGO 9. BE.14.10.ALGO 10. BE.14.01.ALGO 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 $646,280 114,050 5,470,000 Determine the return on total assets. If required, round the answer to one decimal place. %
Transcribed Image Text:Module 7 Problem Set 1. BE.14.06.ALGO 2. BE.14.05.ALGO 3. BE.14.11.ALGO 4. BE.14.08.ALGO 5. BE.14.02.ALGO 6. BE.14.04.ALGO 7. BE.14.09.ALGO 8. BE.14.03.ALGO 9. BE.14.10.ALGO 10. BE.14.01.ALGO 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 $646,280 114,050 5,470,000 Determine the return on total assets. If required, round the answer to one decimal place. %
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