Tamia Inc has $950,000 in assets and $400,000 in debt. If it earns net income of $350,000, calculate the return on assets a) 63.6% b) 271.4% c) 87.5% d) 36.8%

Intermediate Accounting: Reporting And Analysis
3rd Edition
ISBN:9781337788281
Author:James M. Wahlen, Jefferson P. Jones, Donald Pagach
Publisher:James M. Wahlen, Jefferson P. Jones, Donald Pagach
Chapter5: The Income Statement And The Statement Of Cash Flows
Section: Chapter Questions
Problem 1RE: Brandt Corporation had sales revenue of 500,000 for the current year. For the year, its cost of...
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Tamia Inc has $950,000 in assets and $400,000 in
debt. If it earns net income of $350,000, calculate the
return on assets
a) 63.6%
b) 271.4%
c) 87.5%
d) 36.8%
Transcribed Image Text:Tamia Inc has $950,000 in assets and $400,000 in debt. If it earns net income of $350,000, calculate the return on assets a) 63.6% b) 271.4% c) 87.5% d) 36.8%
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