t and balance sheet info
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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Transcribed Image Text:7-2 Project: Company Accour x
121. Project Guidelines and Rubric x
121. 7-1 Problem Set: Module Sev X
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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
$224,540
Interest expense
39,620
Average total assets
Determine the return on total assets. If required, round the answer to one decimal place.
1.8
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Divide the sum of net income and interest expense by average total assets.
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