Answered: Return on total assets A company… | bartleby

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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Return on total assets
A company reports the following income statement and balance sheet information for the current year:
Net income
$266,220
Interest expense
46,980
Average total assets
4,350,000
Determine the return on total assets. If required, round the percentage to one decimal place.
%

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