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Sunrise Foods Inc. is evaluating its financial performance and wants to calculate the return on total assets (before tax) using the following information: • • Credit sales: $620,000 Cash sales: $310,000 Cost of goods sold (COGS): $525,000 ⚫ Other operating expenses: $245,000 • ⚫ Total assets: $890,000 Calculate the return on total assets (before tax).

Sunrise Foods Inc. is evaluating its financial performance and wants to calculate the return on total assets (before tax) using the following information: • • Credit sales: $620,000 Cash sales: $310,000 Cost of goods sold (COGS): $525,000 ⚫ Other operating expenses: $245,000 • ⚫ Total assets: $890,000 Calculate the return on total assets (before tax).

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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Calculate the return on total assets (before tax) on these financial accounting question

Sunrise Foods Inc. is evaluating its financial performance and wants to calculate the return on total assets (before tax) using the following information: • • Credit sales: $620,000 Cash sales: $310,000 Cost of goods sold (COGS): $525,000 ⚫ Other operating expenses: $245,000 • ⚫ Total assets: $890,000 Calculate the return on total assets (before tax).
Transcribed Image Text:Sunrise Foods Inc. is evaluating its financial performance and wants to calculate the return on total assets (before tax) using the following information: • • Credit sales: $620,000 Cash sales: $310,000 Cost of goods sold (COGS): $525,000 ⚫ Other operating expenses: $245,000 • ⚫ Total assets: $890,000 Calculate the return on total assets (before tax).
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